From: dannyb@panix.com   
      
   In  "Peter T. Daniels"   
    writes:   
      
   >> Is their healthplan getting funded? Is money being sent to their   
   >> pension plan?   
      
   >If they were in New Jersey, the answer to the last question is, probably   
   >not. That scum Christie prefers to not meet pension obligations over   
   >raising the taxes needed to cover his stupidly optimistic revenue   
   >projections that he has used every year to claim he knows what he's   
   >doing.   
      
   True enough. But keep in mind that... pension underfunding in   
   gov't "defined benefit" accounts is horrendous. (It ain't so   
   great in private industry, either). NJ has been pulling this   
   deal for years and years, predating Christie.   
      
   It doesn't directly affect (most) gov't employees or retirees   
   because they've got defined benefit packages, so their retirement   
   paycheck amounts are pretty much locked in. (modulo Detroit's   
   bankruptcy, etc.).   
      
   The folk who'll get screwed are the taxpaying residents five and   
   thirty years from now, who'll see a combination of drastically   
   reduced gov't services and hefty tax boosts.   
      
   --   
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   		     dannyb@panix.com   
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    * Origin: you cannot sedate... all the things you hate (1:229/2)