Posts Tagged ‘jersey’

Christie Shorting NJ Pension by $3.8 Billion?


The story first appeared in the International Business Times (IBT) with lots of charts under the screaming headline:

Gov. Christie Shifted Pension Cash to Wall Street, Costing New Jersey Taxpayers $3.8 Billion

Today it was picked up by AOL, Esquire, and Daily Kos all using the angle that Christie wants to take money from retirees barely scrimping by so he can give it to his Wall Street friends who then donate to political campaigns of his choosing.  But is that the real story?

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Pension Study Commission Members Announced


I predicted they would be a combination of five patsies and quislings but apparently Governor Christie could not fill out that roster so he settled on some professional people but raised the number to nine so as to assure that his original intention (having this commission rubber-stamp whatever study the Divisions of Pensions is almost done with) will play out though not through blind obeisance as originally intended but through internal bickering which this commission is certain to have plenty of.  The members, per the press release:

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D-Days for New Jersey Pensions


As in Decision Days.

Today a judge will hear arguments on whether the State can skip pension payments (it can for this year anyway) and tomorrow:

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Who Said We Fixed the New Jersey Pension System in 2011?


Today: “no one in their right mind would say that what we did in ’11 totally fixed a problem that is in the 30-40 billion dollar range”
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but they did:
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If Christie reeks then how much must New Jersey smell not to have noticed earlier?


Yet another hit piece on New Jersey governor-for-the-moment Chris Christie appears in the latest issue of the New Republic (Chris Christie’s entire career reeks.  It’s not just the bridge) but this one is a little different in that it puts Christie’s actions in context (i.e. in New Jersey).  Among the more telling excerpts from the article:

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Rating New Jersey


And today, the state of the state is good, and getting better.

We improved our business climate, and today, by every measure, business confidence in New Jersey is up. In fact, one national magazine ranked New Jersey among the top 5 states with the most improved business climates in America.

New Jersey Governor Chris Christie state-of-the-state address 1/14/14

Reality:

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Pension Aspect of Bridgegate Scandal


The Christie Bridgegate scandal is fascinating for not only revealing the indifference the political class really has for the general public but, in this case, how certain operatives would actively work to damage a segment of that public to whatever degree as long as some level of political gain could be expected.

Obamacare was not intended to be a fiasco.  It was intended to enrich insurance and pharmaceutical companies who would kick back campaign contributions with their excess profits.  The Obama administration did not set out to inconvenience/oppress the public however inevitable that outcome would be considering the level of ignorance/bias the drafters possessed.  The reprisals against the other Hudson County mayor on the Christie enemies list are more in keeping with this nature of governmental dysfunction and they involve pensions.

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