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1 Eclectic Cyborg  Aug 26, 2014 9:07:23am

Sure sounds like “fiscal responsibility” to me.

2 1Peter G1  Aug 26, 2014 9:16:44am

Just about every state that has underfunded their public employee pension fund tries this strategy, making riskier investments in hopes of higher returns. ( In fact the Democrat controlled state of New Jersey elected Christie specifically to shift as much blame for pension mismanagement for their longstanding failures as possible.) Because of funding holidays and failure to make large enough contributions the gap between fund requirements and returns is insurmountable. You can either cut pensions or make riskier investments (as Christie is doing) or (and this is where Democrats start to blush) you can fix your fuck ups by telling the citizens of your state that they need to pay a lot more taxes in their already high taxation state because the citizens need to provide pension and retirement benefits to people which they themselves can never dream of getting. So I take this sort of article with a block of salt or two. The Democrats underfunded the pensions when they had the chance to do it right and now it is time to try to lay it all on Christie. You’d almost think there never were governors from the Democratic party who mismanaged the pension funds instead of All Of Them Doing It.

3 Skip Intro  Aug 26, 2014 9:24:53am

The little people. Just piss on them.

As Christie continues campaigning for a new round of pension benefit cuts, and as more pension money flows to Wall Street, Pat Provnick, a retired educator from Camden County, said retired teachers, firefighters and police officers no longer trust that the pension fund is being managed with their best interests in mind.

“Retirees are terrified,” she told IBTimes. “When you elect people, you hope that they are going to do what’s in the best interest of the people they represent, not just what’s in the best interest of their political aspirations, and when you find out that they may be thinking only of their own interests, you lose faith in any of their decisions.”

4 1Peter G1  Aug 26, 2014 9:48:57am

re: #3 Skip Intro

It never was managed with their best interests in mind. Anybody who wasn’t an idiot could see that the pensions were being underfunded for years by successive governments. The last governor to event attempt to do so was Republican Meg Whitman. It was probably a mistake to make promises that could not be kept but they both did it, Democrats and Republicans alike. They watched their tax bases erode and industry depart. They watched commerce shift to the internet with the attendant loss of sales taxes. They did all this without stating the obvious which is that the only way to keep their pension and benefits promises was to substantially raise taxes and that would only have made the state economy worse. And whoever did that unelectable. Neither had the guts to do that so they successively kicked the can down the road. Now the public employees have a hell of a problem. They have to find some political party willing to screw over most of the citizens of the State of New Jersey so they can have all the benefits that those voters ain’t never going to get. I wish them luck

5 Eclectic Cyborg  Aug 26, 2014 10:37:44am

I’m 33 and I fully expect to NOT retire with a pension no matter what job I get. Pensions are cash suckers, of course the states and corporations want to do away with them.

Even the Unions are losing pension battles more and more.

6 goddamnedfrank  Aug 27, 2014 2:22:58am

re: #4 1Peter G1

It never was managed with their best interests in mind. Anybody who wasn’t an idiot could see that the pensions were being underfunded for years by successive governments. The last governor to event attempt to do so was Republican Meg Whitman.

Meg Whitman was never governor, and her campaign rhetoric on pensions was all about blaming the right of collective bargaining, not funding the obligations.

Your both sides are equally bad bullshit is fucking retarded.

7 De Kolta Chair  Aug 27, 2014 6:20:23am

re: #4 1Peter G1

I believe you’re thinking of Christine Todd Whitman, an ironic mistake considering Meg Whitman squandered $144 million of her own fortune as well as $178.5 million of her donors’ money in her losing bid to become governor of California.


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