Tag Archives: Social Security

Social Security In Deficit = More Public Treasury Borrowing

Summary Largely ignored by the markets,  Social Security moved into structural deficit this year Social Security has been running primary deficits since the GFC; that is financing itself by the interest earned on Treasury securities The government will no longer … Continue reading

Posted in Fiscal Policy, Interest Rates, Uncategorized | Tagged , , , | 3 Comments

The Clash Of Generations Cometh

You heard it here first, comrades! This is what millennials should actually be outraged about—paying into a system that will not exist when we retire and getting saddled with the debt run up by the boomers—instead of petty social justice … Continue reading

Posted in Demographics, Uncategorized | Tagged , | Leave a comment

Outrage Grows Over Public Sector Unions – NY Times

We’ve posted how underfunded state and local pensions are going to be a huge economic and political issue in 2011.   Go no further than the New Year’s Day NY Times article, Across the nation, a rising irritation with public … Continue reading

Posted in Muni Bonds, Policy, Politics, Sovereign Risk | Tagged , , , | 5 Comments

France’s half-century spending spree is coming to an end

Run don’t walk to James Traub’s Foreign Policy’s piece, The Spectacle of the Society.  Sarkozy’s approval ratings are at 30 percent as he battles rioters.   There is a lot here, even for Americans: The drama of rewriting the postwar social … Continue reading

Posted in Geopolitical, Politics, Sovereign Risk | Tagged , , , , | Leave a comment