Trenton’s Pension Sprial Explained
Jim discusses the proverbial "handbasket" that we've found ourselves in here in New Jersey on a nearly daily basis. But what no one seems to be able to explain, up until now, is just how we got to this point with the state pension system.
We have the governor cutting the payment to the state workers pension system this year. We have the State Troopers Union announcing that they will be suing the governor over the non-payment.
If you want to take a look at the timeline that got us to this point, take a minute and read a great article by Joe Sinagra, entitled 'The History Behind Trenton's Pension Death Spiral.'