Hey, what happened? I thought Rupert Murdoch and his shills at the WSJ were in love with Christie since he always tries to be tough on the unions. This is no way to treat a friend! New York Pension Pride: At Least We’re Not New Jersey! It can be self-esteem enhancing to have an ugly friend. And for New York, that ugly friend is located just on the other side of the Hudson River. Despite its budget... [more]
Hey, what happened? I thought Rupert Murdoch and his shills at the WSJ were in love with Christie since he always tries to be tough on the unions. This is no way to treat a friend!
New York Pension Pride: At Least We’re Not New Jersey!
It can be self-esteem enhancing to have an ugly friend. And for New York, that ugly friend is located just on the other side of the Hudson River.
Despite its budget troubles, New York state’s pension fund is in good shape compared with New Jersey’s — and New York Comptroller Thomas DiNapoli said Thursday his constituents only need to look to their southern neighbor to see why.
“Unlike New Jersey, we don’t ignore our pension fund obligations,” he said in a statement, in response to a Moody’s Investors Service report showing New Jersey is among the states with the highest debt, including pension debts. New Jersey’s debt woes stem in part from its pension gap of $54 billion, which leaves the state with just 62% of what it needs to fund retirement payments to public workers.
As DiNapoli pointed out, one reason for the gap is New Jersey over the last decade has not paid the bills for its pension fund, shifting taxpayer dollars to other areas of the budget and pushing the problem down the road. Gov. Chris Christie, in his first budget this year, skipped the entire $3.1 billion payment to the state’s pension fund.
It’s the latest swipe over the last few weeks by an out-of-state Democrat at one of the national Republican Party’s rising stars. Illinois Gov. Pat Quinn, a Democrat, hissed Tuesday after Christie announced that New Jersey would run ads to lure businesses from Illinois, following the state’s decision raise its corporate income tax.
“New Jersey’s way of balancing the budget is not to pay their pension payment, not to deliver on property tax relief that was promised, to fire teachers, to take an infrastructure project — a major one, building a tunnel that had already been started — and end it, and have to pay money back to the federal government,” Quinn said, referring to the Hudson River tunnel project known as Access to the Region’s Core. “I don’t need that kind of advice from that guy.”
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This is definitely devestating for Christie to be bashed so harshly by a Ruprt Murdoch owned publication. Looks like the honey moon is over.
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Response by huntersburg
about 15 years ago
Posts: 11329
Member since: Nov 2010
Does anyone on streeteasy live in New Jersey?
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Response by hol4
about 15 years ago
Posts: 710
Member since: Nov 2008
how's the weather in rutherford social?
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Response by LucilleIsSorry
about 15 years ago
Posts: 452
Member since: Jan 2011
"Does anyone on streeteasy live in New Jersey?"
most certainly! we've been renting a smallish house in the garden state for a few months now (did you know they have basements? like a whole big space you can just fill with overflow? and whole laundry rooms?) it's how i was able to finally get a dignified large breed of dog i've always wanted, instead of the yappy little assholes of my youth. sniper lives in bergen county, keithb is somewhere in essex, alpine is a grudging tax paying nj homeowner, and according to falcogold, all re agents working the ues are as well. when all is said and done, we may end up with a 1br or large alcove condo to use on weekends, where our children will one day host some great parties without our knowledge. new jersey is a very important part of new york.
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Response by LucilleIsSorry
about 15 years ago
Posts: 452
Member since: Jan 2011
the condo will be in manhattan, obv. we will be living in new jersey. we are jerseyites. i got an suv!!!
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Response by alanhart
about 15 years ago
Posts: 12397
Member since: Feb 2007
What exit?
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Response by columbiacounty
about 15 years ago
Posts: 12708
Member since: Jan 2009
LucilleIsBraggingAboutBeingFromNewJersey
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Response by LucilleIsSorry
about 15 years ago
Posts: 452
Member since: Jan 2011
"What exit?"
why, alan? want to come out and help me plant some jersey tomatoes? well, alright, but don't bring columbiacounty. that bitch is a serious buzzkill.
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Response by jason10006
about 15 years ago
Posts: 5257
Member since: Jan 2009
I am a dyed in the wool Dem, but this NJ pension problem was going on for years before Christie.
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Response by LICComment
about 15 years ago
Posts: 3610
Member since: Dec 2007
I'm starting to like Socialist's posts, because he makes all the big-government liberals look incompetent.
Let alone that Corzine ran NJ's budget into the ground, Christie decided to withhold a payment into a pension system that needs major reform, and is a huge cause of the budget problems.
And DiNapoli is a joke. How did NY make its pension payment last year? By borrowing the money . . . from the pension.
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Response by LICComment
about 15 years ago
Posts: 3610
Member since: Dec 2007
From the WSJ:
Mr. Christie is feeling emboldened by new polls that show voters responding to his no-nonsense approach. His own internal poll numbers are the highest they've been since his inauguration. And those numbers are backed up by a new Quinnipiac University poll that finds residents of New Jersey approve of his job performance by 52% to 40%, up six points from December. By 54% to 35%, they view his first year in office as a success, with even 27% of Democrats agreeing.
You can bet that Mr. Christie will be touting those poll numbers as he lobbies legislators for his pension reforms in the coming weeks.
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Response by Socialist
about 15 years ago
Posts: 2261
Member since: Feb 2010
"Christie decided to withhold a payment into a pension system"
Which is the main reason Moodys downgraded NJ. Let's see how popular Christie remains when those higher borrowing costs result in tax increases.
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Response by Socialist
about 15 years ago
Posts: 2261
Member since: Feb 2010
Anybody who drives or takes NJ Transit can thank Christie for toll and fare increases. And if your a homeowner and wondering why you have not got your homestead rebate, thank Christie.
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Response by sledgehammer
about 15 years ago
Posts: 899
Member since: Mar 2009
You guys should be trading each other your house, you clearly don't like the State you live in.
http://blogs.wsj.com/metropolis/2011/01/27/new-york-pension-pride-at-least-were-not-new-jersey/
This is definitely devestating for Christie to be bashed so harshly by a Ruprt Murdoch owned publication. Looks like the honey moon is over.
Does anyone on streeteasy live in New Jersey?
how's the weather in rutherford social?
"Does anyone on streeteasy live in New Jersey?"
most certainly! we've been renting a smallish house in the garden state for a few months now (did you know they have basements? like a whole big space you can just fill with overflow? and whole laundry rooms?) it's how i was able to finally get a dignified large breed of dog i've always wanted, instead of the yappy little assholes of my youth. sniper lives in bergen county, keithb is somewhere in essex, alpine is a grudging tax paying nj homeowner, and according to falcogold, all re agents working the ues are as well. when all is said and done, we may end up with a 1br or large alcove condo to use on weekends, where our children will one day host some great parties without our knowledge. new jersey is a very important part of new york.
the condo will be in manhattan, obv. we will be living in new jersey. we are jerseyites. i got an suv!!!
What exit?
LucilleIsBraggingAboutBeingFromNewJersey
"What exit?"
why, alan? want to come out and help me plant some jersey tomatoes? well, alright, but don't bring columbiacounty. that bitch is a serious buzzkill.
I am a dyed in the wool Dem, but this NJ pension problem was going on for years before Christie.
I'm starting to like Socialist's posts, because he makes all the big-government liberals look incompetent.
Let alone that Corzine ran NJ's budget into the ground, Christie decided to withhold a payment into a pension system that needs major reform, and is a huge cause of the budget problems.
And DiNapoli is a joke. How did NY make its pension payment last year? By borrowing the money . . . from the pension.
From the WSJ:
Mr. Christie is feeling emboldened by new polls that show voters responding to his no-nonsense approach. His own internal poll numbers are the highest they've been since his inauguration. And those numbers are backed up by a new Quinnipiac University poll that finds residents of New Jersey approve of his job performance by 52% to 40%, up six points from December. By 54% to 35%, they view his first year in office as a success, with even 27% of Democrats agreeing.
You can bet that Mr. Christie will be touting those poll numbers as he lobbies legislators for his pension reforms in the coming weeks.
"Christie decided to withhold a payment into a pension system"
Which is the main reason Moodys downgraded NJ. Let's see how popular Christie remains when those higher borrowing costs result in tax increases.
Anybody who drives or takes NJ Transit can thank Christie for toll and fare increases. And if your a homeowner and wondering why you have not got your homestead rebate, thank Christie.
You guys should be trading each other your house, you clearly don't like the State you live in.
"WSJ Throws Chris Christie Under the Bus"
Must be a pretty big bus! LOL