Tag: Social Security
New Book Exposes the ‘Terrible 10’ Worst U.S. Economic Policy Mistakes

Despite enjoying impressive economic growth over the past century, Americans have also been the victims of scores of stupid government mistakes that have made them poorer. For many the blunders led only to temporary setbacks, but for others the errors created life-altering disasters from which they never recovered. In the new book The Terrible…
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U.S. Healthcare Spending: Out of Control

At last count, the United States was spending more than $8,000 a year on healthcare for every man, woman, and child in the country. That’s more than $24,000 for a family of three, and it represents almost one-fifth of all consumption spending. Is it necessary to spend this much? If not, why are we…
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How Much Do We Spend on Healthcare?

At last count, the United States was spending more than $8,000 a year on healthcare for every man, woman, and child in the country. That’s more than $24,000 for a family of three, and it represents almost one-fifth of all consumption spending. Is it necessary to spend this much? If not, why are we doing…
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Supreme Court Rules: Social Security is NOT a Binding Contract

This post was prompted by all-too-common opinions expressed in Randall Holcombe’s recent “Federal Government Debt Undermines the Programs It Finances” blog. The respondents passionately insist that Social Security is a contract, whatever you do to the budget, do not touch Social Security. “I paid in and it is a contract. They owe me.” The…
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Federal Government Debt Undermines the Programs It Finances

Just looking at the rate at which the federal government’s debt is growing is unnerving.  If you’re brave, you can look here.  The table shows federal debt on September 30 of each year, the end of the federal government’s fiscal year.  The numbers almost speak for themselves. About 37.6% of that debt was accumulated…
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Obama is Stuck on the First Envelope

As a young woman, I took over a business that was bankrupt: its liabilities exceeded its assets by a considerable amount, and the wolf was well and truly at the door. Lots of people thought I was foolish not to “erase” its debts through filing bankruptcy and be given a “clean slate” by the…
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Goldwater Was Right about the Dangers of “Big, Inflationary Government”

In Sen. Barry Goldwater’s 1964 campaign ad against big government, the narrator warns a young boy who’s parking his bike at grandma’s house, “Don’t look now young man, but somebody has his hand in your pocket. It’s the hand of big government. It’s taking away about four months pay from what your daddy earns…
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Private-Sector Socialism: What the Right and Left Don’t Understand about Healthcare in Other Countries

There is no topic in healthcare that is more misunderstood than what other countries are doing. At both ends of the political spectrum, the mistake is the same: the belief that other healthcare systems are radically different from our own. They aren’t. Take the United States and Canada. I would say that the healthcare…
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Health Insurance vs. Healthcare: When Socializing Risk Pays Off

Do you care whether I have health insurance? If you do care, do you also care if I have other kinds of insurance? While you’re thinking about the initial question, here are a few follow-up questions: Do you care whether I have life insurance? What about disability insurance? Homeowner’s insurance? Auto casualty insurance? Auto…
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How Much Does Health Insurance Affect Health? Some Surprising Answers

There have been a number of claims that lack of insurance is life threatening. The most recent and well known is an Institute of Medicine (IOM) study claiming that 18,000 people die every year because they do not have health insurance.[1] Using a similar methodology, a study for the Physicians for a National Health…
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