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Thursday, October 22, 2015

NJ lawmakers run from $194 billion liability for employee benefits

With an election for New Jersey Assembly two weeks away, the numbers don’t look good for the fiscal reform urgently needed in Trenton.

The staggering $194 billion liability for public employee pension and health benefits is seldom debated in campaigns for the 80 Assembly seats up for grabs on Nov. 3.

The status quo is a 47-32 advantage for Democrats over Republicans with one seat vacant – a balance not likely to change much. The incumbents have outspent challengers $10 million to $2.2 million, according to a report by a New Jersey election commission.

Even more lopsided, incumbents enjoyed a 10-to-1 cash-on-hand advantage – $5.2 million to $496,000 – over their opponents, as of Oct. 2.

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2 comments:

Anonymous said...

is it just me, or is it cosmic justice that the same ruling class bureaucrats who elect the ruling class elite takers are now being taken themselves?

lmclain said...

The revolution may start in New Jersey. I'll bet those people, who will one day be told there is NO money to fund all the promises made to them, thought "their guy" was watching out for them and would "change things".
He was watching out, of course --- for the FBI. AND he "changed things", but mostly it was who was taking the bribes.
And through it all, there was cacophonous cheering.
Soon, it will turn to wailing and there is NO WAY to stop it.
They will probably have the same look as the Germans did in 1946.
Don't let that stop you.
Keep cheering.