Is there an appetite for restraint?

Demographic outlooks are deteriorating faster than reforms are happening.

The United States obviously is not in good shape.

This the most depressing chart in the world?

This is the Social Security chart that matters most.

How and when debt matters

It’s good to begin a new year with optimism

A recipe for long-run fiscal crisis in almost all developed nations.

With each passing year, the problem seems to worsen

Beware this back-door form of industrial policy.