by Kate Piercy R. Eden Martin, president of the Civic Committee of the Commercial Club of Chicago, offers some solutions to the critical pension problem facing Illinois in today’s Wall Street Journal. Martin concludes, “Public pension funds are in dire need of change, but state and local hopes for a federal bailout now stand in the way...

Veronique de Rugy of the Mercatus Center at George Mason University constructed the diagram below using data from the Congressional Budget Office during the very early stages of the Great Recession and before the Obama presidency. It shows the increase in marginal tax rates required to fund entitlement spending for 2010, 2050 and 2082. The required increase...

by Kristina Rasmussen The House just voted on the ill-crafted state government/union boss bailout bill. The bill passed, and it looks headed to President Obama’s desk for his likely signature. Unions representing public employees and teachers may be cheering, but many taxpayers are jeering, and for good reason. They understand this measure will only increase the pressure...

by Heather Wilhelm “Britain announced a far-reaching deficit-reduction plan Tuesday aimed at saving billions of dollars over the next five years,” reports today’sWashington Post, “becoming the latest European nation to slash spending amid increased worries about rising public-sector debt.” The austerity measures include $145 billion in cuts to public-sector spending (including a two-year freeze on...