Quote:
Originally Posted by NJ Stinks
Just so this point is clear as can be - in 1993 Christie Whitman, a Republican, did what Republicans do. She said if elected as NJ's governor, she would cut NJ state taxes by 30%. Whitman won and the state lost.
She pretended she could afford to cut state taxes by not funding the state employee pension plan. Other NJ governors followed Whitman's lead and today "the pension fund is in the crapper".
People like solid citizen Tom say tough shit for any state employee stuck in this irresponsible mess. Not his problem, says Tommy Boy.
I pity the poor SOB that gets Tommy in his foxhole.  |
I wouldn't be surprised that retired state employees who didn't contribute to SS and have their state pension go belly up, are able to apply and get SS benefits. Of course, those are going to be much less than "promised" as well, either through reductions or hyper-inflation, or both. Your SSN may not even be enough to check out a book from the library in 20 years.
Pensions are the canary in the coal mine. Next up, IRAs and 401Ks, then SS. We've all been gamed by spineless politicians playing the game of kick the can, and trying to avert disaster on their watch. And we know who to blame for spineless politicians....
