Pension Meltdown
Christie Earns NJ's Sixth Downgrade in Four Years
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  • Pete

    “As always, it’s important to remember that those with the most to lose here are the public employees and taxpayers who were told for decades that the system they relied on and paid for was being responsibly run.”

    It is the public employees who should lose the most. With rare exception, they have all be grossly overcompensated for the little work they actually do.

  • Anthony

    Tie this in as you will: there are more American men on disability insurance than doing production work in manufacturing.

  • Breif2

    “As always, it’s important to remember that those with the most to lose here are the public employees and taxpayers who were told for decades that the system they relied on and paid for was being responsibly run.”

    When I invest my retirement money, I don’t blindly entrust it with those who promise the highest returns and then blithely carry on. Then again, if I knew that I could count on suckers taxpayers to “make me whole”, I just might.

  • free_agent

    You write, “It’s hard to see how New Jersey gets out of this mess.”

    It sounds like Chapter 9. There’s only so high you can raise taxes before every productive activity flees the state.

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