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Pension Pursuit

Kicking The Can: Concealing Budget Shortfalls By Underfunding Pensions

by Joshua D. Rauhvia Policyed.org
Thursday, November 2, 2017

Pension funds are using unrealistic assumptions about their future pension returns, concealing shortfalls that will eventually have to be paid for with benefit cuts or higher taxes. Politicians are promising generous pensions without adequately funding them, requiring risky investments. When investment returns don’t materialize, taxpayers have to cover the shortfall.

Pension Pursuit

A Misalignment Of Interests: The Politics Of Pension Funding

by Joshua D. Rauhvia Policyed.org
Thursday, October 26, 2017

The unfunded obligations of pensions systems sponsored by state and local governments continue to grow as a result of unrealistic assumptions about investment returns in pension funds. States that say they’re running balanced budgets are concealing growing debt that crowds out much needed services and imposes higher taxes on current and future taxpayers.

Pension Pursuit

Off By Trillions: The Reality Of Our Pension Problem

by Joshua D. Rauhvia PolicyEd.org
Thursday, October 12, 2017

Pension funds are using overly optimistic assumptions about investment returns and should treat pension promises as guarantees that need to be backed up by risk-free investments. As a result, actual liabilities are three times higher than what is being reported by state and local pension funds. State and local governments need to change how they plan for future pension costs and set aside more money in order to prevent higher taxes or cuts to services taxpayers enjoy.

Pension Pursuit

Unfounded Optimism: High Investment Returns Are History

by Joshua D. Rauhvia PolicyEd.org
Thursday, October 12, 2017

Stocks and bonds used to have high rates of return, but those times are gone. Bond yields are much lower than they used to be and achieving high returns requires taking on more risk. When shortfalls happen, taxpayers are on the hook.

Pension Pursuit

Risky Business: Hoping High Returns Fund The Pension Gap

by Joshua D. Rauhvia PolicyEd.org
Thursday, October 12, 2017
In order to keep taxes low and prevent cuts to services, state politicians effectively borrow massive amounts of money from their pension systems and make risky investments to offset the budget shortfalls. They claim that there are no budget shortfalls as long as investment returns remain high. When investment returns don’t materialize, they turn to taxpayers to pick up the shortfall.
Office Hours

Office Hours: Scott Atlas On Single Payer

by Scott W. Atlasvia Policyed.org
Monday, October 9, 2017

Hoover Institution senior fellow Scott Atlas responds to your questions on health care reform and single payer proposals.

Intellections

Acting From Strength: Achieving Deterrence In Foreign Policy

by George P. Shultzvia Policyed.org
Wednesday, September 27, 2017

Deterrence is an important part of American foreign policy. Through deterrence, we can achieve our goals through peaceful means. However, it is not easy. Deterrence requires the capability to act, the credibility to follow through on threats, and the clear communication of consequences.

Blueprint for America

Entitlements And The Budget

by John F. Coganvia Policyed.org
Wednesday, September 20, 2017

The United States faces a fiscal challenge unlike any in its history, driven entirely by spending on federal entitlement programs. The country is currently borrowing half a trillion dollars a year and is on pace to borrow a trillion dollars every year. Unless entitlement spending is restrained, every American will face higher taxes and lower standards of living.

Intellections

The Power Of Education: Boosting Economic Growth In The Long Run

by Eric Hanushekvia Policyed.org
Friday, September 8, 2017

Widespread proficiency in math and reading creates a strong foundation for more advanced knowledge and productive work. Unfortunately, U.S. proficiency in math and reading hasn’t kept up with the rest of the world. If American students become more proficient in math and reading, long-run economic growth will follow.

Trade and immigration are good for the U.S. economy
Blueprint for America

Trade And Immigration

by John H. Cochrane via Policyed.org
Friday, September 1, 2017

Trade and immigration are good for the U.S. economy. Free trade allows Americans to buy better goods at lower prices and provides bigger markets where we can sell our own goods. More immigration leads to economic growth and improvements in our standard of living. The logic that isolation and protectionism will create more American jobs is misguided and detrimental to economic growth.

Pages

Educating Americans about Public Policy

The digital media revolution has transformed the way people obtain information and form opinions. Countless partisan outlets peddle assertions and “sound bites” as indisputable facts. Few people have the knowledge and analytical skills to navigate this torrent of misinformation. They crave credible and accessible sources of facts, analysis, and information about proposed policies and the effects of those already enacted.


The Hoover Institution

Since its founding nearly 100 years ago, Stanford University’s Hoover Institution has sought to promote economic opportunity and prosperity, secure peace, and improve the human condition. Unique among policy research organizations, Hoover is part of a world-renowned university. In addition to being scholars, our fellows are educators.

Seeking to become the foremost source of policy knowledge, wisdom, and insights, we have launched the Mary Jo and Dick Kovacevich Initiative at the Hoover Institution, Educating Americans in Public Policy. The initiative seeks to:

  • Equip Americans with accurate facts and information, as well as a discerning analytical perspective, so they can better perform their civic duties, hold their elected leaders accountable, and “secure the blessings of liberty to ourselves and our posterity.”
  • Provide political leaders with reliable knowledge and analysis—tools with which they might assess alternatives in the shaping and execution of public policy.

This effort will build on our legacy of substantive policy inquiry where partisan advocacy has become the norm.

 
The Hoover Institution acknowledges significant gifts in support of its Education Americans in Public Policy initiative from the following generous and committed family foundations and individuals:

    Mary Jo and Dick Kovacevich Family Foundation
    S.D. Bechtel, Jr. Foundation
    Kurt and Julie Hauser
    E.A. and Suzanne Maas
    Frank and Mona Mapel