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    Morning Bell: Taking America from Welfare State to Opportunity Society

    “I must go to college!” insists eight-year-old Pierre William. Such planning may seem unusual in a second grader. But Pierre is lucky. He’s attending a private school in the District of Columbia using funds from the D.C. Opportunity Scholarship Program. That’s opened his eyes to the possibilities that only a … More

    Avoiding a Debt Crisis, Eh? Lessons From Canada

    Congressional lawmakers met last week to try to hammer out a deal to avert the fiscal cliff. Democrats insist on revenue increases as part of such a deal, saying new revenue is the only way to significantly reduce the national debt. However, it is not a lack of revenue that … More

    Social Security: Runs Permanent Deficits, Benefit Cuts Loom

    Social Security paid out more to retirees and other beneficiaries than it collected in tax revenue in 2011. This is the second straight year the program is running deficits, as highlighted in a recent Congressional Budget Office (CBO) report. Social Security’s finances will only get worse without reform, as the … More

    Morning Bell: "60 Minutes" Contrast Between Romney, Obama on Entitlements

    The official, head-to-head debates begin next week, but Sunday’s “60 Minutes” appearances by President Barack Obama and Governor Mitt Romney (R-MA) provided a contrast in the ideas offered on the nation’s entitlements and spending crisis. For his part, the President punted on a serious question about the nation’s concern over … More

    Romney's "60 Minutes" Fix For Social Security and Medicare

    President Obama’s and Governor Romney’s appearances on “60 Minutes” Sunday revealed an interesting contrast. The President punted on a serious question about the nation’s concern over spending—blaming everything on President George W. Bush. Right. Obama’s been in office how many years now? At what point does he take responsibility for … More

    Morning Bell: Government Dependency Rises As Number of Taxpayers Declines

    The leak of a video featuring former Governor Mitt Romney (R-MA) has sparked debate about government dependency and the number of people in the United States who do not pay federal income tax. In the video, Romney refers to “47 percent” of Americans and says that they are “dependent upon … More

    Chicago Teachers' Retirement Benefits Are Extravagant

    When Chicago teachers began their strike on Monday, critics rightly pointed out that the city already pays one of the highest average teacher salaries in the nation. Even more important, however, is the generous retirement package received by Chicago public school teachers. A Chicago teacher who retired in 2011 after … More

    Social Security Pays Benefits to Millionaires' Children

    Many aspects of Social Security date back to 1939 and reflect an America that is long gone. One of these pays Social Security benefits to minor children—even if the parents are millionaires. Case in point: the Social Security checks sent to the three younger children of Representative Pete Stark (D–CA). … More

    Saving the Future for a Longer Life

    In the past 30 years, U.S. life expectancy has increased by an average of five years. Since 1935, when Social Security was first enacted, it has increased by almost 18 years. It’s no wonder that Americans are working more years as they enjoy longer, healthier lives thanks to improved healthcare … More

    Discouraging Retirement Savings Is No Way to Reduce the Federal Deficit

    It’s a fact that runaway spending, not lack of revenue, is the cause of long-term federal deficits. Still, some continue to push for higher taxes to solve the problem. A favorite tool of would-be revenue raisers is to eliminate “tax expenditures”—revenue the federal government “forgoes,” they say, due to tax … More