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December 2013

"The truth about the underperforming NC retirement fund"

Ardis Watkins, legislative affairs director of the State Employees Association of North Carolina:

The contention that the system is outperforming its benchmark is misleading. The system sets its own benchmark, so to beat it is meaningless.

See also the post by my former colleague, NCSU finance professor Richard Warr, "NC Pension Fund Returns - what is the benchmark?" It ends, alas, this way: "We are bleeding money to Wall Street."

Still, yet, more selected articles on the Affordable Care Act

"Fine print: State can seize your assets to pay for care after you’re forced into Medicaid by Obamacare".

"No, You Can't Keep Your Drugs Either Under Obamacare".

Glenn Reynolds: "So, to recap: Those plans that Obama said were crap plans you wouldn’t want a dog to have? Now that he can’t hit his numbers without them, they’re just the thing!"

New York Times [!]: "New Health Law Frustrates Many in Middle Class".

Finally, John Fund argues, "Yes, It Can . . . Be Repealed: If Obamacare produces as many losers as winners, its future will be in doubt."