The union is wasting its time and making leaders look like wimps by denying the ‘joint accord’ mentioned by Christie in his budget address.
“If something cannot go on forever, it will stop,” said pragmatist Herbert Stein, and the New Jersey public employee pension system appears to have hit that wall. Last week the bipartisan Pension and Health Benefits Study Commission declared that “the situation is not only getting worse, but is also fast approaching the point at which it will be beyond remedy.”
So what’s the cure for a pension system that Mark Magyar describes on this website as a “fiscal basket case?”