Huge pensions for retired government workers can be found from small municipalities to national governments on both sides of the Atlantic. There is a reason. For elected officials, pensions are virtually the ideal thing to spend money on, politically speaking. Many kinds of spending of the taxpayers' money win votes from the recipients. But...
The only real speculation by the Fed is that the public won't catch on to the fact that it is being driven deeper into debt while it's burdened with ever greater taxation, all while having its savings destroyed.
A nation's choice between spending on military defense and spending on civilian goods has often been posed as "guns versus butter." But understanding the choices of many nations' political leaders might be helped by examining the contrast between their runaway spending on pensions while skimping on military defense.
- Quotes of the day Allahpundit 8 hours ago
- WMD in Iraq a rather nuanced issue Ed Morrissey 9 hours ago
- Perry: Rand Paul’s position on Iraq is “disheartening … curiously blind” Ed Morrissey 11 hours ago
- Joni Ernst will miss two weeks on the campaign trail… to serve in uniform Jazz Shaw 12 hours ago
- UN Security Council issues non-binding call for cease fire in Gaza Ed Morrissey 14 hours ago
- UAW decides to skip election and form union at VW anyway Jazz Shaw 15 hours ago