Mercatus Center

Mercatus Center News

  • State Pension Gaps Shrink for First Time Since 2007: Muni Credit

  • To Save Pensions, Get Government Out

    Detroit has become the largest U.S. city to crumble under the weight of huge, unfunded public employee benefits such as pensions and retirement health care. It is unlikely to be the last: Recent bond-rating downgrades in Chicago and Cincinnati indicate that more municipalities could be forced to seek bankruptcy protection.

  • How the Bank Lobby Loosened U.S. Reins on Derivatives

    One by one, Gary Gensler’s supporters deserted him. Now the chief U.S. regulator of derivatives was being summoned by Treasury Secretary Jacob J. Lew to explain why he refused to compromise.

  • Obama Wants to Make Sure You Don’t Retire Rich

    A bullet point on Page 18 of President Barack Obama’s 2014 budget sounds ominous: “Prohibit Individuals from Accumulating Over $3 Million in Tax-Preferred Retirement Accounts.” That it appears in a section titled “Strengthening the Middle Class” is odd since such a proposal would seem to undermine the goal.

  • Calpers Board Lowers Investment Return Forecast to 7.5%

    The California Public Employees’ Retirement System, the largest U.S. public pension, voted to lower its assumed rate of return for the first time since the recession dragged down stock and real-estate prices.

  • Five Lessons of 2013, Guaranteed to Be Forgotten

    It’s that time of year when journalists let their creativity run rampant to produce 10-Best and 10-Worst lists, revisit the year’s biggest whoppers (look no further than the Oval Office), and offer prognostications for the coming year. With that in mind, I’ve gleaned the five most important lessons from 2013, which are all but guaranteed to be forgotten next year.

  • Obama’s Tax Increases Will Find the Middle Class

    If I were to learn on Dec. 31 that my taxes are going up next year, I would do ... absolutely nothing.

  • Jerry Brown to Propose Overhaul for California's Underfunded Pension Plans

    California Governor Jerry Brown said he will propose changes to the most-populous U.S. state’s underfunded public-employee retirement plans.

  • California Can Top New York as Nation’s Worst State

    Whenever a free-market research or business group releases a “best and worst” list of states, my eye goes straight to the bottom: To see whether California is last or was edged out for the lowest rank by one of the other mismanaged liberal bastions. Illinois seems to exist to boost the self-esteem of Californians.

  • Taxpayers Don't Need $2.9 Trillion Pension Overhaul: Joe Mysak

    The economic recovery is fragile enough. Should we force public pension funds to cut their investment return assumptions in half in order to comply with economic theory? The move may cost taxpayers $2.9 trillion.

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