Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: liabilities

The Implosion of the Social Security Disability Ponzi Scheme Accelerates

Fresh data just released by the trustees of the Social Security Administration show that the number of people receiving benefits from the Disability Insurance Trust Fund has exploded over the last five years, reducing the surplus in that fund from $216 billion in 2008 to just over $100 billion in 2013. There were 7.4 million recipients in January 2009, but as of October 2013, there are nearly 9 million beneficiaries, not including

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The Atlantic magazine laughs off America’s debt burden

When the senior editor of The Atlantic, Derek Thompson, tried to explain away concerns over the massive unfunded liabilities facing the U.S. government repeatedly pointed out by experts such as Peter Peterson (the former chairman of the Council on Foreign Relations), Boston University economics professor Laurence Kotlikoff, and James Hamilton of the University of California, he used a combination of

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University of California Study: The National Debt is really $70 Trillion

Professor James Hamilton, economics professor at the University of California, San Diego, just published his best estimate of the federal government’s “off-balance-sheet” liabilities and concludes that the real national debt, popularly estimated to be $16.9 trillion, is in fact more than four times larger: $70.086 trillion. This is because of decisions to

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First Detroit, Now Chicago?

The unfunded pension liabilities facing Chicago are only the most recent troubles threatening the Windy City, according to the New York Times. The recent credit downgrade of Chicago’s general obligation bonds by Moody’s, Standard and Poor’s and Fitch just brought the matter to the surface. Crime, corruption and a shrinking population also are beginning to make Chicago look like an out-sized version of Detroit.

According to the city, the four pension plans for its police, teachers, firefighters and office staff, are all dreadfully underfunded to the tune of some

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Will Scranton be Next?

Following Detroit’s application for bankruptcy protection under Chapter 9 last week, pundits have had a field day predicting which city would be next. Fox News thinks it’s going to be Chicago, which Moody’s just downgraded because of its $19 billion unfunded pension liabilities. The agency said those liabilities are “very large and growing” and as a result the city faces a “tremendous strain.”

Other cities like

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How a Social Security defender defends Social Security

In one of the more remarkable examples of dissembling, Alicia Munnell uses the oldest trick in the book: belittle the accuser while ignoring the facts. The accuser is Prof. Laurence Kotlikoff, a professor at Boston University who is about to issue his 2013 estimate of the unfunded liability facing the US government. Currently it’s

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S&P Issues an Upgrade of US sovereign debt along with a warning

In the announcement by credit rating agency Standard & Poor’s on Monday that affirmed its AA+ rating of United States sovereign debt while revising upward its outlook from “negative” to “stable,” the agency explained that in the short run there has been some perceptible improvement in the country’s fiscal situation but in the long run

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Social Security Trustees Celebrate: Trust Funds won’t be Broke for Years

With Friday’s announcement by the Trustees of the Social Security Administration that “reserves are still growing and will continue to do so through [the year] 2020,” it didn’t take long for groups like Strengthen Social Security (SSS) to chortle that not only is Social Security “fully affordable and structurally sound, [but it] will

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The Clock is Ticking on Illinois Pension Reform

Two competing bills for pension reform have just passed the Illinois legislature with hopes that one of them will be passed before it adjourns for the summer on May 31st. One of them has the blessing of the teachers’ union and Democrat John Cullerton, president of the state senate. The other passed the House, and neither

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.
Copyright © 2021 Bob Adelmann