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Department of Education bails out of student loan bailout
For the second time in the past month, the Biden administration withdrew a proposed rule that CEI had opposed. The Department of Education has…

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Proposed student loan bailout rule makes no sense
As the Federal Register approached its previous record of 95,894 pages in a year (set in 2016), the Biden administration devoted a few more…

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Free the Economy podcast: Understanding the national debt with Thomas Savidge
In this week’s episode we cover whether Americans feel better off than they were four years ago, why we have more billion-dollar…
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Johnson-Crapo Is Phony Fannie-Freddie Reform
Ever since the phrase appeared in Shakespeare's Romeo and Juliet, "A rose by any other name would smell as sweet," and its variations, have…
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The “California Rule” and the “The Fall of Pacific Grove”
In my previous post, I described the "California rule," which puts state governments in a legal straitjacket when trying to reform underfunded public pensions.
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How the “California Rule” Holds Back Pension Reform
These days, local governments announcing bankruptcy seems like routine in California. Since the onset of the 2008 financial crisis, many state and local governments have…
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To Enact Pension Reform, Make Good Policy Good Politics
In my previous post, I looked at some basic principles that should guide state policy makers when tackling pension reform. Now, we turn to the…
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Who Wants to See Their State Go Broke?
Few people would raise their hands when asked that question. But actually putting a state's financing on sound footing is difficult in practice. That makes…
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“The bill doesn’t come due until well after the legislators who wrote the check have left office”
Thus describes an Illinois state Senator the challenge states face in reforming their public employee pension systems. Given that reality, it's astounding reform would ever…