Friday, February 20, 2009

~ Pension Fuckery ~

Bill S-7/A-3688 was set to come before the Senate this Monday, Feb. 23. However, it's not on the list of bills to be voted on Monday. This bill is known as the Pension Payment Deferral. NJ's so-called leaders, specifically Cryan and Codey, who are sponsoring the senate and assembly version of the bills, will tell you it's the only way to avoid horrific property tax increases this year. Well guess what? The State's pension funds are horrific in many ways and it's time to stop hiding that fact. By delaying what should be required contributions regardless of the economic crisis, the taxpayers will be saddled with making those contributions at a later date. That's not relief ... it's merely putting off the inevitable for another day. It's time to stop blaming NJ's poorly run government on the national economic crisis. It's getting tiresome.

If the NJ pension funds were held to the same ERISA standards as other pensions, NJ would either be forced to INCREASE the contributions or DECREASE the benefits. NJ isn't expected to take any of those SOUND steps and is expected to march forward in the complete opposite direction. No surprise there ... doing the right thing isn't NJ's bag.

If you are an employer of union ironworkers or electricians, imagine not paying your pension, welfare and whatever other contributions those unions force you to pay and promising to pay them some other year. It wouldn't fly for a minute.

On Monday, Lesniak, through Resolution S-12, is still pursuing his Las Vegas dreams of legalized sports betting. Despite Atlantic City, horse betting and the lottery, NJ is still piss poor. How can this be when we pay the highest taxes in the nation? Instead of working towards a fiscally sound solution to fix NJ's financial mess, Trenton, in its quenchless thirst for more money, is banking on the public to take part in an activity which really amounts to "a roll of the dice". Pretty seedy.


Anonymous said...

"Fuckery"....LOL! That is hilarious!!!!!!!!!!!

Well, you have rather eloquently, if not colloquially, hit the nail on the head!

Anonymous said...

don't let ur personal feelings cloud you on the gambling issue.. organized crime and offshore parlors make BILLIONS on NJ bettors.. there is NO downside to taking a piece.

NFS said...

The downside, in my view, is that the other organized crime family known as our government fails in every aspect when it comes to fiscal responsibility. The more money it gets, the more insatiable it becomes and there lies the problem. NJ taxpayers will never see "a piece" of any sports betting profit. Any profit will be recklessly spent as our precious tax dollars are, Soprano State style.