About 20 years ago, I read an ad in a local Sacramento newspaper that said “Get a government job and become an instant millionaire.” The ad went on to describe how public bureaucrats in California enjoyed benefits private sector employees can only dream of, including a guaranteed retirement pension worth the equivalent of millions of...

In a perfect world, California’s state and local public employees would receive exactly the same retirement benefits as federal employees. They would receive a modest defined benefit, a contributory 401K, and they would participate in Social Security. Unfortunately, in California, while some state and local public employees are offered 401Ks, and many participate in Social Security, all of...

One of the biggest unreported, blockbuster stories in modern America is the alliance between public sector unions and the speculative banking industry. It is a story saturated in greed, drowning in delusion, smothered and marginalized by an avalanche of propaganda – paid for by taxpayers who fund both the public sector unions and the public...

Editor’s Note:  If you want links to core data on Social Security finance, this post by UnionWatch contributor Mike Shedlock is a good place to start. Shedlock correctly notes that during the most recent 12 months the Social Security program ran a deficit for the first time in history. The 2013 resumption of full 6.25%...