Richmond, Calif.’s plan -- which dozens of localities are considering -- is facing legal and legislative challenges. What are the pros and cons of seizing underwater mortgages using eminent domain?
Defined-benefit plans put all the risk on states and localities; defined-contribution plans put it all on employees. Now there's a new approach to risk sharing.
Fraud is on the rise. There is evidence that fraud has permeated virtually every government-based benefit program at the state, local and federal level. The federal government estimates that three to five percent of public assistance dollars are lost each year to fraud, and tax related identity fraud has grown 650% since 2008.
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