Social Security is both the largest program in the federal budget and one of the most fiscally unsustainable. The program has already begun paying out more in benefits than it is taking in through payroll taxes. By 2033, the Social Security Trust Fund will be drained and the benefits paid out will decline by 25 … Continue reading
The 2008 Financial crisis was a costly lesson in the dangers that come with subsidizing risk. Fannie Mae and Freddie Mac are well recognized as the principal creators of moral hazard by reimbursing investors that held mortgage-backed securities when homeowners failed to make payments on their mortgages. Yet only five years after the worst of … Continue reading
One of greatest falsehoods that clouds the discussion over whether to raise the minimum wage is that these workers are underpaid compared to the value they provide to their employers. Massachusetts Sen. Elizabeth Warren made the case, “If we started in 1960 and we said that as productivity goes up, that is as workers are … Continue reading
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