Reader says the chickens are coming home to roost on NJ Pensions and Healthcare !
Our state’s employee health benefit program is $47 billion in the red because GOVERNORS and the legislatures have stolen funds from the health care and pension funds each and every year since Gov. Whitman. We are talking Billions of dollars in lost contributions and Billions of dollars in lost earnings on investments.
Doesn’t mention that FACT since he benefited by the theft from the health benefits program and pension system since the Governors didn’t need to increase their income taxes to raise the money to fund their pet programs. It was a win/win for the Governors, just take the money from the government employees health care fund and pension fund and say your not raising income taxes during your terms in office.
Well now those chickens are coming home to roost !
we pay as bills are incurred. We haven’t reserved anything against the future cost of all of the public sector healthcare bills because it’s a PAYGO system where we pay-as-you-go. That’s like a family running a $47 billion credit card bill with nothing saved in the bank to pay for it. So it will come out of our future wages, i.e. state & local taxes every year, which is why politicians are bending over backwards trying to get the current system to pay for current & retired public employees at the expense of everyone else. Nice sleight of hand, too: you act like you just deserve Rolls-Royce healthcare, like its your right, without even questioning how much it’s cost hardworking New Jerseyans. Classic “Me first!” greed.
