Political news, yo.

[Tahoe]

NJ State pensions cost the NJ taxpayers 11BILLION dollars a year. Absolutely incredible.

[Uncle Mxy]

NJ State pensions cost the NJ taxpayers 11BILLION dollars a year. Absolutely incredible.

How much should they cost? Why?

Reportedly, there's 780,000 people in the NJ pension system. So, if your $11 billion is right and my 780000 people is right, that's ~$14k/person/year.

Keep in mind that the alternative would be Social Security, which has a non-trivial employer-side cost to it.

Is the real issue about cost, or about payout?

I'd suggest doing the math and not just putting BILLION in all caps.

[Uncle Mxy]

http://www.theonion.com/articles/usa...ecision,18950/

[Glenn]

How much should they cost? Why?

Reportedly, there's 780,000 people in the NJ pension system. So, if your $11 billion is right and my 780000 people is right, that's ~$14k/person/year.

Keep in mind that the alternative would be Social Security, which has a non-trivial employer-side cost to it.

Is the real issue about cost, or about payout?

I'd suggest doing the math and not just putting BILLION in all caps.

Bah! Stupid facts!

[DrRay11]

[Tahoe]

How much should they cost? Why?

Reportedly, there's 780,000 people in the NJ pension system. So, if your $11 billion is right and my 780000 people is right, that's ~$14k/person/year.

Keep in mind that the alternative would be Social Security, which has a non-trivial employer-side cost to it.

Is the real issue about cost, or about payout?

I'd suggest doing the math and not just putting BILLION in all caps.

lol

http://online.wsj.com/article/SB1000...816252348.html

Average annual pensions for new retirees as of July 2009 were roughly $39,500 for state workers, $46,400 for teachers, $73,500 for police officers and firefighters, and $105,600 for judges.

[Tahoe]

The problem is the union leaders make sweet deals with politicians who knew they wouldn't be in office when it came time to pay up. Then the union leader thugs take a slush fund to give back to the politicians to get reelected. Then more deals are made and on and on.

[Tahoe]

I know you are lib D. But some day you will be old enough to understand that the Govt's money is taxpayer money. They made deals that are unsustainable.

[Tahoe]

New deficit number for this year is almost 1.5T.

[Tahoe]

^ 1 frickin year. Unbelievable.