Fiscal Intelligence

Fiscal analysis that enables educators, small business owners, and community organizers to make informed decisions.

Who Really Betrayed Detroit? by Steven Malanga – City Journal

For years, the trustees granted annual bonuses to retirees and fattened worker-savings accounts with high guaranteed rates of return, siphoning crucial assets out of the retirement system, even as Detroit’s finances deteriorated. By one estimate, reported in the Detroit Free Press in September, the bonuses and guaranteed-interest programs cost the pension funds nearly $2 billion in contributions and foregone investment returns—money that might have made the pension system well-funded today and allowed retirement benefits to remain untouched.

Who Really Betrayed Detroit? by Steven Malanga – City Journal.

The Closing of Diane Ravitch’s Mind by Sol Stern, City Journal Autumn 2013

Education writer and activist Diane Ravitch is very angry these days. She’s convinced herself and her followers that elements of the American corporate elite are working to destroy the nation’s public schools, the indispensable institution that has held our republic together for more than two centuries. According to Ravitch, these fake reformers—the “billionaire boys’ club,” as she calls them—are driven by greed: after destroying the schools and stigmatizing hardworking teachers, she says, they want to privatize education and reap the profits from the new market.

The Closing of Diane Ravitch’s Mind by Sol Stern, City Journal Autumn 2013.