The Wall Street Journal has an interesting article yesterday regarding changes being proposed for the way that state and local governments account for the cost of retired workers.
The proposals, unveiled Monday by an accounting-standards group, would require state and local governments to add retiree-benefit promises to their balance sheets, making governments’ overall financial position appear worse.
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Excellent article. Sadly the changes that need to happen to head this off are things that virtually no one from either party wants to actually voice, let along advocate. And frankly most voters would not accept if the politicians did.
No level of taxes can address the phenomenal fiscal imbalance that our country is facing now and into the future. Higher taxes would merely act as a drag on growth, exacerbating the debt and deficit problem. History will not judge the debt-denialists kindly.
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Some good links for this week.
Enjoy!
This is perhaps my favorite article of the week, though there were plenty of good ones, and I quite honestly lost track of some.
With Gun Control, Cost Benefit Analysis Is Amoral
Really nice take on the whole gun control issue. I especially like his statement: “Statistics about how often gun-related crimes occur in the population is no evidence against you. That’s collectivist thinking. The choices made by others are irrelevant to the choices that you