Archive for September 23rd, 2010

Government Employee Pension Funds Face Bigger Shortfalls


Thursday September 23rd, 2010   •   Posted by David Theroux at 1:05am PST   •   2 Comments

As reported in a new article for the Wall Street Journal, “Pension Gaps Loom Larger,” David Reilly notes that based on unrealistic return assumptions, the nation’s largest public employee pensions could face big shortfalls: “Many of America’s largest pension funds are sticking to expectations of fat returns on their investments even after a decade...
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Consumption Spending Is 70% of GDP: So What?


Thursday September 23rd, 2010   •   Posted by Robert Higgs at 12:40am PST   •   4 Comments

It must be a condition of employment that a journalist who writes about the current recession include in his article the statement, “consumption makes up more than two-thirds of the economy” or “consumption spending accounts for 70 percent of GDP.” This seemingly simple, factual statement, however, is nearly always intended to carry some explanatory...
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