For years I have warned against over optimistic return expectations on pension funds (See here, here, here, here, here, and here for starters). States like Illinois are known to have unrealistic pension expectations, but new rules forcing states into more rational calculations for their pension fund returns have outed Minnesota as another pension fund risk […]
U.S. Air Force Testing Dangerous Gravity Bomb
The U.S. Air Force recently tested its most advanced nuclear weapon, the B61-12 gravity bomb. This new bomb, dubbed the B61-12 LEP, is part of the B61 life extension program. The Department of Energy’s (DOE) National Nuclear Security Administration (NNSA) and the U.S. Air Force completed two qualification flight tests of a B61-12 gravity bomb […]
Should the U.S. Cut Japan and South Korea Some Slack?
For generations now the United States has implemented policies limiting the armament of Japan and South Korea. Each is now an ally, but limited by military weakness. What good is having an ally that’s so weak they can’t contribute to their own defenses? Doug Bandow, a senior fellow at the Cato Institute, has written in […]
What Can We Learn from Denmark?
Under the heading of “even a blind squirrel finds a nut,” Denmark targets deep tax cuts. What are we waiting for? Peter Levring writes at Bloomberg: By encouraging more people to work, the government expects to generate more revenue via sources such as value-added tax, Jensen said during a press conference in Copenhagen. “There’s still […]
Greetings from Estonia
A Teachable Moment in the Law of Unintended Consequences
Guess what? Despite environmentalists’ outrage, Americans can once again purchase bottled water within our national parks. Yes, it’s the end of an Obama-era policy seeking to reduce plastic waste. Which is a good thing, you are likely thinking. But read below what actually happened after America’s Park Service spent millions of dollars on water fountains […]
Scheuer: Trump Should Purge General Officers Corps
Michael Scheuer, former head of the CIA’s bin Laden unit, urges President Trump to purge the general officers corps for reasons including: –They and their predecessors have not won a war since 1945. In truth, they have won nothing in the most war-filled 72 years in American history. –They have regularly betrayed the military men […]
Congressman Learns the Same Lesson From Trump He Did from Bush
Congressman John Duncan Jr. writes in The American Conservative that he has learned the same tough lesson from Donald Trump, who he supported, that he did from George W. Bush, whom he also supported. During the primary campaigns of both candidates, Rep. Duncan was drawn to each by their rhetoric about ending unwinnable wars and […]
Trump Brings Out the Worst in His Opponents
Does the spectacle of mobs targeting public statues they don’t like and suppressing the speech of those with whom they disagree advance the Democratic cause? Are Democrats so unhinged they can’t think straight? Do Americans know what the Democrats stand for–other than that they loath Donald Trump? Even Bernie Sanders knows that the Democrats won’t […]
Navy’s New Missile Shoots Down Advanced Ballistic Threat
Raytheon is reporting that its new Standard Missile-6 (SM-6) intercepted an advanced medium-range missile at sea. It was the third successful ballistic missile intercept for the SM-6. The SM-6 is the only missile that supports anti-air, anti-surface, and sea-based ballistic missile defense. A Raytheon (NYSE: RTN)-built Standard Missile-6 intercepted a medium-range ballistic missile target at sea in […]
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