Before our depressing discussion today about the fiscal impact of entitlement programs (Social Security, Medicare, Medicaid, EITC, Food Stamps, welfare, and Obamacare, etc), here’s a video of how it all began. I think this is a great introduction to the issue, particularly since you learn how “public choice” (i.e., politicians engaging in self-serving behavior) played a key role in the development […]

Politicians in Washington have been trying to buy votes with proposals to expand Social Security.

Do you want the bad news or the worse news?

Bloomberg is less rational today.

A President Warren would make a bad situation even worse.

A tax penalty and discriminatory features of Social Security discourage women from working.

A private pension fund with these numbers would have been shut down a long time ago.

The damage is worst on younger firms.

The United States is in the middle of the pack.

Many developed nations already have fully or partly privatized systems.