October 8, 2008

Beware “Entitlement Reform”

During the presidential debate last night, the term “entitlement reform” was repeatedly bandied about, but little was said in the way of concrete proposals.

To be sure, something must be done about Social Security and Medicare. Both programs are woefully underfunded in the long run. Either they, or the Federal government, or both, are facing disaster within a few decades if the gap between anticipated revenues and anticipated expenses is allowed to grow.

Both programs are also cornerstones of middle class prosperity. Without Social Security and Medicare, the majority of middle class households will face poverty in their old age. If anyone gets sick, that poverty will quickly turn to utter destitution. These programs must be saved.

The problem is referring to them as “entitlements.” American workers aren’t merely “entitled” to these things, they’ve earned, and paid for them. Check out this editorial about the so-called entitlement spending crisis.

October 5, 2008

Your Health Care Is Being Slashed So Illegal Aliens Can Get It For Free

Waiting room of the future--crowded

If you have been to an emergency room lately, you’ve probably had to stand in a long line. And if you’ve looked at that line, you’ve probably noticed that many people in it are non-Americans. You may have wondered if some, if not most, are illegals. They are. And you’re paying dearly for it: not just in time, but in money, and possibly, with your health and life if services are curtailed because of the rising cost of providing free health care to people who shouldn’t even be here.
[Read more]

October 2, 2008

The Financial Crisis and Your Investments

AAFR just published a good piece on retirement investing during the financial crisis.

Sound advice for all investing, not just for retirement: don’t panic, don’t make rash decisions, but do become more cautious with your investments.

September 27, 2008

Trade Unionist Blames Financial Crisis On Falling Wages

The ongoing financial crisis in the U.S. has occasioned plenty of finger pointing. Some blame reckless mortgage brokers; others greedy financial institutions; and still others lax regulators.

Carl Feuer, a spokesman for UAW Local 2300, sees it slightly differently. According to him, the real cause of the crisis is the falling standard of living of the American worker.

As prices for food, gasoline, and health care rise even as wages stagnate or fall, many households have been unable to make their mortgage payments.
[Read more]

September 18, 2008

Who pays for Wall Street bailouts? You do.

The recent failures of many big names on Wall Street have rattled investor confidence but have little direct effect on average Americans. The big money boys have been playing their games for years and almost always winning. Now they’re losing one. It goes with the territory.

But governmental bailing out of Wall Street firms may ultimately cost a lot of money that would be better spent helping Main Street homeowners and small businesses. It’s tantamount to welfare for the super rich. And according to a recent Dallas News article, even many Republicans are now questioning the wisdom of putting the government on the hook for private investors’ excesses.

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