Using fair-market valuation, Nevada PERS’ unfunded liabilities would rise from about $10 billion to almost $41 billion. Shifting PERS to a defined-contribution, 401(k)-type structure would ensure that benefit obligations are fully funded going forward and that everyone is clear regarding the pensions promises the government has made and its ability to fulfill them.

The Postal Service needs to be converted into a regular business, facing market competition and disciplined by active, focused shareholders. It must be permitted to reduce its high and rigid costs, and to adjust to the realities of a new communications marketplace. This should be done through de-monopolization, corporatization, and eventual privatization, as has been done in many other countries.

Recent patent reform showed remarkable restraint from Congress and will lead to a more efficient and rigorous patent system that will in turn create economic growth.

Current pension accounting rules significantly understate state pension plan liabilities and overstate their funding health. Using accurate accounting, Washington’s combined plans would face a $50.6 billion short fall. By private pension standards Washington’s pension system would be considered endangered.

The new health care law will create a policy limbo that is likely to persist for decades, increasing uncertainty, ultimately discouraging investment and scientific risk-taking.

A controversial dimension of the financial crisis has been the role of credit ratings and the perverse incentives facing rating organizations.

The US housing finance market should function without any direct government financial support. It should also ensure mortgage quality, a stable budget for assistance to low-income families, and eliminate Fannie and Freddie.

There have been repeated warnings from across the political spectrum that Medicare spending will bankrupt the country unless it is curbed. AEI's Joseph Antos and a panel of experts will discuss what it would take to overcome political and technical roadblocks to necessary action.