Category Archive: debt

Mar
27

Kentucky’s Pension “Reform”

“What has been will be again, what has been done will done again; there is nothing new under the sun.” -          Ecclesiastes 1:9 Kentucky’s unfunded pension liability was increasing rapidly.  Reform was needed.  In 2008, Kentucky “reformed” their pension system.  The reform said that by 2025 Kentucky should begin fully funding that year’s newly created …

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Permanent link to this article: http://wkubbtcenter.com/2013/03/27/kentuckys-pension-reform/

Feb
22

A Sequester of Competence

The world did not end in December 2012.  The Mayans were wrong.  So too were those who prognosticated that the Fiscal Cliff would end the world as we know it on January 1st 2013.  But wait, we are supposed to believe that the four horsemen of the apocalypse will begin their ride on March 1st …

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Permanent link to this article: http://wkubbtcenter.com/2013/02/22/a-sequester-of-competence/

Dec
18

I Want a Long Term Debt Deal for Christmas

And now for our yearly Christmas carol parody, to the tune of “I Want a Hippopotamus for Christmas”. I want a long term debt deal for Christmas Only a long term debt deal will do Don’t want a cliff, no punt until next year I want a long term debt deal that’s as simple as …

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Permanent link to this article: http://wkubbtcenter.com/2012/12/18/i-want-a-long-term-debt-deal-for-christmas/

Aug
17

Eminent Theft

The Fifth Amendment to the US Constitution recognizes the power of the government to seize private property for public use (eminent domain) as long as just compensation is given to the owner of the property.  In 2005, the US Supreme Court expanded the definition of public purpose to include private economic development.  In Kelo vs. …

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Permanent link to this article: http://wkubbtcenter.com/2012/08/17/eminent-theft/

May
16

The Certainty of Bad Policy Makers

Do you know what your tax rates are going to be next year?  Will the Bush tax cuts expire as planned?  How will that affect you?  Will the payroll tax “holiday” be extended?  Will the debt ceiling be raised?  Will it be another temporary last minute deal that involves no real spending cuts but makes …

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Permanent link to this article: http://wkubbtcenter.com/2012/05/16/the-certainty-of-bad-policy-makers/

May
09

Avenging Reality

The Euro’s value has been dropping this week, as have global stock markets based on a fear of a disintegrating Europe.  Apparently the Greek public has already tired of austerity.   Mind you, their austerity measures still entailed running large (though smaller than before) budget deficits.  It just doesn’t feel good to them to cut back …

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Permanent link to this article: http://wkubbtcenter.com/2012/05/09/avenging-reality/

Apr
20

Shooting the Moon, and the Economy: Washington’s Deadly Game of Hearts (and Thrones)

The object of hearts (the card game, not the muscle in your chest, or the object that the Tin Man lacks) is to score as few points as possible.  A player gains a point for each suited heart they win during a trick. (Click here for the rules for hearts).  A player gains thirteen points …

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Permanent link to this article: http://wkubbtcenter.com/2012/04/20/shooting-the-moon-and-the-economy-washington%e2%80%99s-deadly-game-of-hearts-and-thrones/

Mar
19

Blind(er) Faith in the Government

Alan Blinder was at it again in Monday’s WSJ, as he warned against a 2013 fiscal cliff.  One wonders if he is not too blind to tell the difference between a cliff and a mountain.  The cliff Professor Blinder worries about involves programmed tax increases and spending cuts set to take effect in January 2013.  …

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Permanent link to this article: http://wkubbtcenter.com/2012/03/19/blinder-faith-in-the-government/

Dec
28

Payroll Tax: Holiday from Responsibility

Is the US economy over-taxed?  Federal tax revenues as a percentage of GDP are at their lowest point in forty years.  That would be news for the economy to cheer if it were accompanied by the lowest level of government spending in forty years and fast economic growth, which of course it isn’t.  The same …

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Permanent link to this article: http://wkubbtcenter.com/2011/12/28/payroll-tax-holiday-from-responsibility/

Dec
12

Effective Middle Class Warfare

Here’s hoping that President Obama isn’t in Kansas anymore.  Last week when he was in Kansas, he decried income inequality and the decline of the middle class.  Fortunately inequality has decreased under his presidency.  If only making rich people worse off helped everyone else, the economy would be booming – which, of course, it isn’t. …

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Permanent link to this article: http://wkubbtcenter.com/2011/12/12/effective-middle-class-warfare/

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