Public pensions are eating taxpayers alive

By Jeff Jacoby, The Boston Globe

SOME OF my best friends, to coin a phrase, are lifetime government employees. When they stop working, their pensions will put them among the highest-earning retirees in the country. On a personal level, I’m glad my friends’ retirement will be so comfortable. But as a taxpayer, I know that their good fortune, multiplied by hundreds of thousands of government workers like them, will only worsen a swelling political and fiscal crisis.

Union: Obamacare will slash wages by up to $5 an hour

By Paul Bedard, The Washington Examiner

A national union that represents 300,000 low-wage hospitality workers charges in a new report that Obamacare will slam wages, cut hours, limit access to health insurance and worsen the very “income equality”President Obama says he is campaigning to fix.

How the “California Rule” Holds Back Pension Reform

By Ivan Osorio, Openmarket.org

These days, local governments announcing bankruptcy seems like routine in California. Since the onset of the 2008 financial crisis, many state and local governments have seen their pension funds take huge losses. Yet, many of the underlying problems that have made pension shortfalls difficult to address go back many years — more than half a century, in fact.

Who Wants to See Their State Go Broke?

By Ivan Osorio, Openmarket.org

Few people would raise their hands when asked that question. But actually putting a state’s financing on sound footing is difficult in practice. That makes Rhode ‘s Island’s pension reform not only unique, but also a good example for other states to consider. Rhode Island got not only the policy, but also the politics right, according to Drew University political science professor Patrick McGuinn in a new Brookings Institution study.

California Isn’t Greece, But Has Tough Road Ahead

By Andrea Riquier, INVESTOR’S BUSINESS DAILY

Mountains of financial liabilities. Forced to issue IOUs when cash ran dry. A legislature in perpetual stalemate. Prickly relations with powerful public sector unions. At the worst of the financial crisis, California was often compared to Greece.