394 GT Fiscal Discipline Updates

394 GT Fiscal Discipline Updates - GT Fiscal Discipline DDI...

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GT – Fiscal Discipline DDI 2008 GT    Logan Fiscal Discipline Low There’s no fiscal discipline now – West Virginia proves JENNIFER LEVITZ , staff reporter in Boston for The Wall Street Journal, 8/4 /08, “When 401(k) Investing Goes Bad - Teachers in West Virginia offer a valuable lesson for what not to do,” Wall Street Journal, http://online.wsj.com/article/SB121744530152197819.html?mod=googlenews_wsj Some retirement experts say another problem that surfaces in 401(k) plans is the "red-truck syndrome ": Plan participants use some of their nest egg at retirement to buy something they always dreamed of having. Teresa Ghilarducci, an economist at the New School for Social Research in New York, says many workers take their 401(k) in a lump sum and have difficulty making it last. She says the West Virginia case "shows the nation what is wrong with everyone's 401(k)," including a lack of investment knowledge and fiscal discipline . There is no fiscal discipline right now, our economy is in trouble – overwhelms the action of the plan Steve Chapman , member of the Tribune's editorial board, 7/10 /08, “Obama, McCain and the coming fiscal disaster,” Chicago Tribune, http://www.chicagotribune.com/news/columnists/chi-oped0710chapmanjul10,0,7110404.column F ederal budget policy is a dry subject with far too many numbers and charts, which makes it uninviting to most Americans . But the theme of the current budget story is one that could have come from a blockbuster summer movie: We are doomed. There is a fiscal asteroid on course to pulverize us, and no one is coming to the rescue . The problem is simple and depressingly familiar. This year, federal spending will exceed federal revenue by more than $400 billion . Given the weak state of the economy, the deficit will get worse before it gets better. Actually,
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394 GT Fiscal Discipline Updates - GT Fiscal Discipline DDI...

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