Not only is Social Security in the worst shape it has ever been in, a recent Congressional Budget Office (CBO) report reveals the problem has grown significantly worse under the Obama administration.
Efforts are underway by the Taiwan government for a government led restructuring to avoid bankruptcy (Plan to stop Taiwan’s high-speed rail going bust set for review). Since opening in 2007, this privately financed and operated system has been plagued with ridership well below projections. The Taiwan experience is consistent with the research showing that ridership on high-speed rail lines has been frequently over-projected.
Craig and Ponte point to 1913 as the year progressive, collectivist ideas “took control of the United States government and began a ‘fundamental transformation’ of our economy, politics, culture and beliefs that continues today.”
My colleague at The Heartland Institute, Eli Lehrer wrote a rather controversial op-ed for the Weekly Standard recently arguing that “Pensions Aren’t the Problem.” Eli’s piece makes some good points[…]