Andrew Biggs on States Underfunded Pension Funds

Andrew Biggs (a former Social Security analyst and Assistant Director of the Cato Institute’s Project on Social Security Choice) offers his perspective on the serious problem of States with underfunded pension funds.  The problem is one of solvency in which liabilities exceed the states assets.  He has proposed that states change the way they report […]

TAXPAYERS FACE LOSSES ON GM’S INITIAL PUBLIC OFFERING

By Mark Kleis Several sources familiar with the preparations of General Motors’ upcoming initial public offering are, according to the latest projections, suggesting that American taxpayers could take a loss on the offering, potentially pushing off payback for years. The U.S. taxpayers currently lay claim to a 61 percent ownership stake in GM, meaning taxpayers […]

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