Following this year’s Libertarianism vs. Conservatism intern debate, the Cato Institute conducted a survey of attendees to ask who they thought won the debate and what they believe about a variety of public policy and philosophical issues.
At some point California will need to figure out how it is going to cope with having insufficient money set aside to meet its pension promises. That calculus will be much easier if CalPRS doesn’t accept a lower rate of return in exchange for dubious political chits.
Recent experience has shown that even would‐be reformers have expressed a reluctance to make any changes that would affect current retirees, and if this continues it would make addressing the Social Security’s significant unfunded obligations more difficult.
The reason governments cannot simply take money from some people according to how able they are, and give it to others according to how needy they are, is because people who were aware of that plan would not be foolish enough to accurately reveal their abilities and needs.