Quote Originally Posted by Bailey View Post
NJ's pension fund was at least 40billion in debt do to the govt raiding it. I don't blame the congress for passing that law.
The biggest mistake ever made was when Christine Whitman started raiding the pensions, half of which are employee contributions. She promised to put that money back and since then not one thin dime has been put into the pension fund. Worse yet, when we take a pension loan(we can only borrow up to half of what we already put in, and must pay it back with interest within 5 years), thanks to some Democratic lawmakers, when we repay the pension loan, the interest no longer goes into the pension fund but into the general fund. That said, RINO Christie recently took $260 million more out of the pension fund and gave it to the Revel Casino, a casino/hotel that was doomed from the start(it's been open less than a year). 6 days ago it filed for chapter 11 bankruptcy and that pension money is gone. Like I said, 1/2 is from employee contributions. Now tell me again how it's the employees who are a burden to the system.