Losing money is embarrassing. And an embarrassed Jamie Dimon publicly admitted that J.P. Morgan Chase goofed. Three senior executives lost their jobs as a result. But politicians and regulators in Washington are rushing to leverage the bank's misfortune for their own gain.

The implication of Occupy Wall Street's demand is that teachers are paid far too little given their skills. The opposite is actually true: According to our analysis of salaries, fringe benefits and job security, most public school teachers are paid considerably more than what they could earn in private-sector jobs.

Does a pension plan that takes more investment risk become better funded? Both the current accounting standards and the proposed revisions answer yes, while economic theory and real-world financial markets say no. Until and unless this central question is answered correctly, both the size of pension liabilities and the steps that could address them will be misunderstood.

It's always painful to take on the myths and ideological narratives of the left. The pundits of the liberal (excuse me, "progressive") media make a pretense of listening to reason, but when their views are challenged, they become abusive.

Several studies have shown that public-sector workers receive higher compensation than their counterparts in the private sector. Although, federal contractors have some of the advantages of private sector workers, in that poor performers can be dismissed and the composition of the contractor workforce altered, it is possible that they are overcompensated just as federal employees are right now.

America spends more than any other developed nation on health care--$2.1 trillion in 2007 alone--yet 46 million Americans are still uninsured, and those who are insured often receive costly but inappropriate care. While there is little doubt that the health system needs reform, there is substantial disagreement about the role...

An analysis of why current public sector pension accounting standards understate liabilities and encourage excessive risk-taking

In December 2010, the President's Fiscal Commission failed to garner the necessary supermajority to pass its plan to reduce the deficit. Now, with the super committee, starting work on its effort to propose $1.5 trillion in deficit reductions, some have speculated that history is about to repeat itself. However, a closer examination reveals a night-and-day difference.