By Matt Rooney | The Save Jersey Blog
Tuesday’s budget address is appropriately renewing the budget/pension recrimination battle, Save Jerseyans, so if you haven’t already, check out our contributor Joe Sinagra’s Pension Death Spiral post. It’s a great quick primer for the ‘how’ behind our current situation.
Want something even easier to digest?
This chart tweeted out by Politico New Jersey caught my eye:
— Katherine Landergan (@klandergan) February 17, 2016
That’s right! As Governor Christie correctly said from the rostrum, this year’s proposed $1.9 billion state pension contribution is the largest ever. By a mile. And he’s the only one who has at least acknowledged the problem and proposed a solution that didn’t 100% revolve around tax hikes. But with your average worker $2.4 million in benefits for a $126,000 personal contribution, a full 95% of our budget’s raw growth is coming from these exorbitant pension and benefits payments.
We never catch up by design. It’s mathematically impossible.
Democrat governors’ mismanagement (see above) of the pension fund makes the Democrat legislature’s pension amendment all the more ridiculous. There’s nothing to debate for as long as the NJEA-owned politicians find reality less lucrative than campaign donations…