How will Christie shake NJ up?
A must-read article for New Jersey residents!
With the recent election of Governor Chris Christie – there has been much talk about what to do with New Jersey, and it’s fiscal problems that are squeezing the residents out of the state.
After Eileen Norcross’ article on Reason.com: “Exiting New Jersey’s Fiscal Nightmare,” you’ll certainly not wonder why so many people are loving their six-figure public patronage jobs anymore.
I’d suggest City officials start putting their thinking caps on now – because the days of relying on state aid to help
mismanage run the city may be coming to an end soon!
Some interesting snippits:
- Since 1990 local governments have added 45,500 new jobs. Nearly all of them are represented by one of a dozen unions, which have helped secure some of the plushest public sector jobs in the nation. It’s easy to see how property taxes have grown at twice the rate of inflation over the past decade.
- The state’s pension plan is currently under-funded by $34 billion. The pensions for average teacher range from $1.6 million to $2.5 million, per retiree. For the average police officer, that range totals between $3.2 million and $6 million, per retiree.
- Christie’s real challenge is to stop this exploitation of the state’s treasury by the public sector unions. He can lead the charge in rooting out obvious public sector excess, such as massive cash payouts for unused leave, and paid time off for holiday shopping.
- He’s also proposed cutting back on wasteful programs which simply subsidize municipal mismanagement.
She sums it all up by saying:
- “Implementation is the hard part—especially in a political climate where patronage and rent-seeking seem to be the explicit goal of most policy makers. Chris Christie has his work cut out for him.”
How do you think Hoboken will fare once Christie rolls his sleeves up? Higher property taxes? Lesser services?