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#1 Text of Gov. Chris Christie's budget speech02-15-2010, 04:34 PM
This is my favorite bit:
Let's tell our citizens the truth , today , right now , about what failing to do strong reforms costs them.
One state retiree, 49 years old, paid, over the course of his entire career, a total of $124,000 towards his retirement pension and health benefits. What will we pay him? $3.3 million in pension payments over his life and nearly $500,000 for health care benefits , a total of $3.8 million on a $120,000 investment. Is that fair?
A retired teacher paid $62,000 towards her pension and nothing, yes nothing, for full family medical, dental and vision coverage over her entire career. What will we pay her? $1.4 million in pension benefits and another $215,000 in health care benefit premiums over her lifetime. Is it "fair" for all of us and our children to have to pay for this excess?
The total unfunded pension and medical benefit costs are $90 billion. We would have to pay $7 billion per year to make them current. We don't have that money , you know it and I know it. What has been done to our citizens by offering a pension system we cannot afford and health benefits that are 41 percent more expensive than the average Fortune 500 company's costs is the truly unfair part of this equation.Stand up for what is right, even if you have to stand alone.
02-15-2010, 10:16 PM
- Join Date
- Sep 2009
Good speech. I hope he sticks to it.
02-16-2010, 12:59 PM
He's not telling you the whole truth. The fact is that I'd be willing to bet that the 49 year old retiree is a retired corrections officer who for 25 years made sacrifices that Gov. Christie seems to want to ignore. We in my profession miss out on things most take for granted. Many a year goes by where we miss Thanksgiving and Christmas with our families, children's birthdays, dance recitals, anniversaries, family get togethers and the like. Not to mention the high stressful and dangerous environment we work in. I posted a thread about a fellow CO who was brutally attacked the other day and who's career is most likely over because he received severe eye damage. Yet Christie ignores this. You just can't look at something in a general sense. Also, if that same person invested that $120K, over a 25 year career if invested right could have well over the $3 million Christie speaks about. Christie's speech here is nothing but political mudraking. We who contribute into the pension pot do so as an investment. And let's not forget that the state uses this pension money for their own ends. Christie Whitman raped the pension fund and not a nickel has been paid back. He conveniently leaves that out as well. Not to mention that there is a lot of money wasted at the top yet he's targeting the little guy. NJ politics as usual.The Obama Administration: Deny. Deflect. Blame.
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