CalPERS takes risks, looks to private equity to mitigate underfunding

October 28, 2020 | Reason

The Federal Reserve has done a lot to help keep our economy afloat. It has cut interest rates to unprecedented low levels, bought billions of dollars of corporate IOUs, helped stabilize the debt markets and helped rescue a stock market that had begun falling sharply in mid-February when the covid-19 recession started and had seemed headed for a crash.

Low interest rates may imperil pensions

October 28, 2020 | AdvisorNews

The Federal Reserve has done a lot to help keep our economy afloat. It has cut interest rates to unprecedented low levels, bought billions of dollars of corporate IOUs, helped stabilize the debt markets and helped rescue a stock market that had begun falling sharply in mid-February when the covid-19 recession started and had seemed headed for a crash.

Conservative think tank calls for NYC pension reform

October 28, 2020 | Chief Investment Officer

Conservative think tank the Manhattan Institute is calling for New York City to reform its public retirement system, including by ditching its defined benefit (DB) plan for a defined contribution (DC) plan, saying the pension system is “on an unsustainable path.”

Illinois’ governor begs citizens to let government tax them even more

October 28, 2020 | Reason

Citizens of Illinois pay a lot of taxes, but on Election Day, state leaders are begging its residents for permission to tax them even more.

5 things to know from the first day of Chicago budget hearings

October 28, 2020 | WBEZ-FM (Chicago)

Chicago alderman kicked off a series of budget hearings Monday to discuss Mayor Lori Lightfoot’s 2021 spending proposal, which includes an increase to the gas tax, higher property taxes, furloughs and possible layoffs.

Amazon’s massive Chicago-area expansion fueled by $741 million from taxpayers

October 28, 2020 | Better Government Association

The people behind Project Condor came to University Park village trustees early this year with an intriguing proposal — and an ultimatum.

If you soak the rich, will they leave?

October 28, 2020 | The Atlantic

Cities and states across the country are facing a conundrum: They are desperate for cash because of the ravages of the COVID-19 recession. 

How are we paying for the federal response to the coronavirus?

October 28, 2020 | Peter G. Peterson Foundation

The federal government has enacted four pieces of legislation that provide relief to individuals and corporations that have been affected by the COVID-19 pandemic.

Ted Cruz is asked why national debt is paramount to Republicans only when a Democrat is in the White House

October 28, 2020 | MarketWatch

During his 2016 presidential campaign, Donald Trump — even though he had dubbed himself “the king of debt” — promised to slash the mounting national debt until it was completely eliminated within eight years. Four years on, how’s that going? Not well.

Why this disastrous experiment also hurt states that did not lock down

October 27, 2020 | American Institute for Economic Research

Imagine 100 people on a wholly deserted island. Life would be pretty dreadful, right? With only 100 people producing, work would be endless in return for very few of life’s comforts.

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