Christie’s Next Jam

Chris Christie will announce for president and his youtube stream has been updated for 10:30 tomorrow morning:
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His first problem could be a market collapse which would relegate the announcement to an afterthought (or a ‘Christie sat on it’ joke) but what is more likely to dampen the festivities is traffic.

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OPEB – One Pretty Expensive Benefit

In working up a countywatchers blog comparing insurance costs for county governments in New Jersey I needed a link to an explanation of OPEB in New Jersey and one of my old nj.com blogs came up which I reproduce below word-for-word from 2009.  What strikes me is that:

  1. so little has been written explaining governments’ liability for OPEBs that my six-year-old blog would come up near the top of a search; and
  2. OPEB liabilities have gone down.

I expected (1) but (2)? The latest OPEB valuation for New Jersey (July 1, 2013) lists total Accrued OPEB Liabilities as $66.8 billion which is less than the $68.8 billion reported back then.  With more people in the system and New Jersey still providing those ‘cadillac’ benefits that supposedly would save the state $3 billion annually if cut back to ‘gold’ how are these liability reductions coming about (if not by actuarial voodoo ordered up by politicians)?

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Telling It Like He Thinks It Is

A brand new youtube channel appeared today, simply called:

Chris Christie

The first youtube:

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Can’t Take Pension Cant

The problem I have with anti-tax groups is that they want lower taxes without putting in the work to understand how to get there or the consequences.  You don’t see them at freeholder meetings or poring over government budgets (making them not much different from most of the media) which often leads them to positions directly contrary to their stated interests.

For example, Erica Klemens, state director of the Americans for Prosperity—New Jersey, and Leonard Gilroy, director of government reform at Reason Foundation, had a guest column in the Star Ledger today urging adoption of proposed pension reform in New Jersey that irked me more with each paragraph:

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Valuing Christie’s Time

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:

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Christie Still Undecided – On Some Things

On last night’s Ask the Governor program Chris Christie cleared up a few points (and muddied others):
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Christie to Announce Tuesday

It is being reported that Chris Christie “will announce on Tuesday he is running for president, according to a source familiar with his plans.”  This would be the same day he would sign a budget that gets balanced by ignoring real liabilities.

So how do you think he will do?

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