New Jersey (and other states) Public Pension Disaster
Governor Chris Christie has declared a state of emergency in New Jersey and frozen spending in the state. He says New Jersey’s state budget a "shambles", and that, "the state is on the verge of bankruptcy." He has made the Dems "furious" by reducing school surpluses and transit subsidies. At least, these are the things the media is talking about, and only what the media talks about. (Read a news report here.)
Rush has a different point of view about why New Jersey, and numbers of other states are in BIG TROUBLE financially.
Just look at the pensions and retirement health benefits that have been granted unionized public employees by Democratic controlled state legislatures. These numbers were shared by Rush on Monday, February 15, 2010, hour 3 of his radio show.
| Unionized Public Employee Contributes To Their Plan | $ 124,000 | or | $ 62,000 |
| Unionized Public Employee Retires At Age 49 | |||
| The Employee Receives In Pension | $ 3,300,000 | $ 1,400,000 | |
| The Employee Receives In Healtcare Insurance Benefits | $ 500,000 | $ 215,000 | |
| Total Benefits Received By Employee | $ 3,800,000 | $ 1,615,000 |
This is unsustainable for any government, but reflects exactly what is going on throughout our country! You have one advantage going for you, New Jersey! You have a Republican governor who isn’t lying to you, so you have a chance to deal with the problem.
Rush Limbaugh