Chris Christie carved out some time today to visit with yet another group unlikely to formulate intelligent follow-up questions to inanities that he cloaks as insights – this time it was the New Jersey press corps after a ceremonial budget signing – where he paraded his ignorance of the time value of money and concluded with a warped syllogism that would befuddle Escher:
“I will continue to put in as much money as we can afford into the pension system but not a nickel more.”
What went unsaid must now be obvious, even if it does not get spelled out to the masses:
- A good chunk of that $1.5 million that New Jersey spends on health care premiums for a typical employee goes to connected insurance agents who funnel it back into the political system
- There are about 750,000 people in the pension system counting retirees and active participants but Christie mentioned 625,000 as the number he does not want to benefit disproportionately by making pension payments which could mean that those are the New Jersey residents in the system. If he knows that number then there is likely something in the works to tax pensions of those living in other states.
- A nickel is about what New Jersey will afford without any external discipline to put in more.