Keep pulling the thread on David Friedberg.
The U.S. Social Security system is projected to become bankrupt within 5 years.
The Social Security Trust Fund would have an additional $37 trillion in assets if contributions since 1982 had been invested in the S&P 500 instead of U.S. Treasury bonds.
California's current state budget has a shortfall of $30 to $40 billion, which is being addressed through accounting measures.
Since a rule change in 1982, all assets in the Social Security Trust Fund have been invested exclusively in U.S. Treasury bonds, yielding an average of 3.5% annually.
The U.S. federal student loan program has historically provided loans to any student for any degree at any college, irrespective of cost, which created misincentives for universities to raise tuition.
The Congressional Budget Office (CBO) projects that the Social Security system will run out of money and become insolvent within five years.
The United States has a national debt of $39 trillion.
The total net worth of all Americans is $183 trillion.
The total net worth of billionaires in the United States is $8 trillion.
The total net worth of the bottom 50% of Americans is $4 trillion.
The U.S. capital gains tax rate should be increased to 40%.
The United States should adopt a key performance indicator of converting 2% of its population from labor-based income to capital-based income annually.