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...
If the masses ever magically found out the truth of the math of central banking, heads would roll overnight.
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.
- Report: Qatar scuttled Gaza cease-fire for not having seat at Cairo table Ed Morrissey 52 mins ago
- White House now leaning on Eric Holder to play the role of racial healer? Noah Rothman 1 hour ago
- WaPo: Was Foley’s killer a former Gitmo detainee? Ed Morrissey 2 hours ago
- Everything has changed after the execution of James Foley by ISIS Noah Rothman 2 hours ago
- Quotes of the day Allahpundit 12 hours ago
- There will be nothing from the president tonight on the beheading of an American journalist Update: Statement tomorrow Mary Katharine Ham 12 hours ago