New Jersey beats only Massachusetts, Connecticut and a hurting Puerto Rico in a new state-by-state comparison of fiscal solvency by the Mercatus Center at George Mason University. Samantha Marcus, NJ.com Read more
N.J. among worst of the worst when it comes to state fiscal health
4 thoughts on “N.J. among worst of the worst when it comes to state fiscal health”
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NJ public sector union deal is too good, from “platinum” health benefits that private sector workers help subsidize (even though the plans are better than what they get themselves), to outsized “accumulated leave” payouts on retirement at highest final comp rates, to “special” retirements with full pensions that can be collected after only 25 years of service. Time to diminish benefits, i.e. lower health plan benefits to “bronze” level which is equivalent to private sector coverage, shift to 403b defined contribution pension plans, and if employees want to retire after 25 years that’s fine but they have to wait until age 65 to start collecting their pensions. People live longer now, it’s a fact. And ban the greedy practice of double- and triple-dipping, only one public pension per person. None of this is controversial anymore, the status quo is not working. #taxedtodeath
Wow, we’re compared with Puerto Rico? Aren’t they bankrupt? Bankruptcy court might be the solution, renegotiate all of the excessive CBAs with state & municipal employees… Although Sweeney, Sarlo and Prieto aren’t the people to lead us, they’re bought and paid for with Union votes to steal from the rest of us to benefit only public sector workers and retirees. They actually want to change the state constitution to make public sector pensions more important than any other state spending, including schools, hospitals, roads and infrastructure.
My thoughts exactly 6;24 & 6:30! My heart goes out to the “little guy” public workers but the high earners and political cronies have been exploiting the over generous benefits and provisions and lead to this crisis. It has been a long time since public sector salaries were below private sector which is why the very generous benefits were at one time acceptable.
Democrats + unions = financial disaster