Scottsdale Supporter and Friend Breakfast

May 06, 2014

Event Speakers

Antony Davies

Senior Affiliated Scholar

For decades the federal government has been borrowing from social security. Since 2010, the amount social security has been able to loan the government has been declining. Today, the social security board of trustees expects that, by 2020, this lending will dry up entirely. As that happens, the federal government needs to find a new lender from which to borrow. In October, the IMF advised indebted Western governments to tax citizens’ savings accounts. Against this backdrop comes a new proposal: MyRA – a new type of IRA that that can only be invested in Treasury bills. MyRA is positioned to be the government’s first step in requiring workers to loan their retirement funds to the federal government.

Please join us for breakfast on Tuesday, May 6, with one of Mercatus’ affiliated scholars, Dr. Antony Davies, Associate Professor of Economics at Duquesne University, to discuss intended and unintended consequences of the current U.S. debt and deficit. Dr. Davies will also discuss why the current proposals presented to the American people to reduce our debt are not the solution.

This is not a fundraising event, and there is no charge to join us. We are pleased to have you as our guest to show our thanks and appreciation to our donors. Dress is business casual. Please invite friends or associates who might be interested.

Questions? Contact Kate Rinaldi at or (703) 993-4889.