NJ Gov Christie reneges on law he signed for more pension funding. Courts say it's ok

[JEDI]

http://www.wsj.com/articles/n-j-s-h...administration-on-pension-payments-1433860848

- law signed by Christie in 2011.
- The law required the state provide escalating pension funding in exchange for worker concessions.
but Instead of a $3B payment last year, his budget only gave $1.3B.

- The court’s majority, writing in a 5-2 decision, found the state needed to honor its obligations to retirees, but that a pension law signed by the administration wasn’t an enforceable contract.

- New Jersey’s pension system representing some 773,000 state workers faces a funding shortfall of more than $37 billion.
The system, valued around $80 billion, is funded at roughly 51%, and New Jersey makes its annual pension contributions at one of the lowest levels among the states.


A) Why did the unions give up concessions in exchange for NJ to put more $ into pensions?
NJ already owes that $.

B) If Christie knew all along that the pension law he signed was unenforceable then he's a political genius!


I see it like this:
You have sex w/a hooker in all 3 holes and promise to pay $1000.
You only pay $500.
You promise to pay the other $500 if she makes concessions.
She gives him another blowjob and swallows.
He only pays her $200 more.


cut throat brilliant!
Great if you're a CEO of a company.
But VERY bad if you're a public official.

I would never trust him as President of the US!!!

 

[thraashman]

How is a signed law not an enforceable contract?

 

[rudeguy]

Typical democrat.

 

[Linux23]

it must be nice living in a world where you make up all of the rules and decide to renege on something that was promised. must be nice to be a republican.

 

[Jhhnn]

Mr. Christie said it was time to rekindle negotiations over further benefit cuts to make the system sustainable. “I urge all interested parties to come back to the table and partner with me to finally solve this problem once and for all,” he said.

So long as he can get the votes, he'll defund the pension system to intensify the problems. It looks better if they'll actually agree to being raped, but he'll be fucking them anyway. Bet on it.

 

[soulcougher73]

Typical democrat.

 

[JEDI]

Typical democrat.

psst.. he's a repub

 

[glenn1]

How is a signed law not an enforceable contract?

If the law is a contract then the party with potential tort recourse is the legislature, not the pensioners. The pensioners' avenue for enforcement is via the ballot box or recall. The NJ high court ruled (and I agree on the legal principle) that the law did not create a constitutionally protected right to those payments; Social Security is an analogue here. I think it's a politically indefensible and reprehensible position, but that doesn't mean it's not without *legal* basis.

 

[rudeguy]

psst.. he's a repub

Yea and I'm David Hasselhoff

 

[brycejones]

Yea and I'm David Hasselhoff

So Christie is just another north east rino? Not a real republican like Brownback, Cruz, and Perry?

 

[brycejones]

If the law is a contract then the party with potential tort recourse is the legislature, not the pensioners. The pensioners' avenue for enforcement is via the ballot box or recall. The NJ high court ruled (and I agree on the legal principle) that the law did not create a constitutionally protected right to those payments; Social Security is an analogue here. I think it's a politically indefensible and reprehensible position, but that doesn't mean it's not without *legal* basis.

Damn it! I hate it when I have to agree with glenn1.

 

[PokerGuy]

If the law is a contract then the party with potential tort recourse is the legislature, not the pensioners. The pensioners' avenue for enforcement is via the ballot box or recall. The NJ high court ruled (and I agree on the legal principle) that the law did not create a constitutionally protected right to those payments; Social Security is an analogue here. I think it's a politically indefensible and reprehensible position, but that doesn't mean it's not without *legal* basis.

This, 100% this. I agree with the court regarding the legal matter, it seems like a dick move to agree to something and then renege on it.

 

[rudeguy]

So Christie is just another north east rino? Not a real republican like Brownback, Cruz, and Perry?

Way to pretend I said a bunch of things I didn't.

Way to pretend this is the first time you've ever heard him referred to as not a republican.

Your pretend game is strong today.

 

[JTsyo]

So long as he can get the votes, he'll defund the pension system to intensify the problems. It looks better if they'll actually agree to being raped, but he'll be fucking them anyway. Bet on it.

That quote is funny. I screwed you guys over in the last negotiations but why don't you come back and see how it works out this time? Why would they believe anything he tells them this time?

 

[rudeguy]

That quote is funny. I screwed you guys over in the last negotiations but why don't you come back and see how it works out this time? Why would they believe anything he tells them this time?

Hope and change!

 

[brycejones]

Way to pretend I said a bunch of things I didn't.

Way to pretend this is the first time you've ever heard him referred to as not a republican.

Your pretend game is strong today.

Dude don't go all texashiker or xbiffx on us.

 

[rudeguy]

Dude don't go all texashiker or xbiffx on us.

except what I said was true. You are pretending that I said stuff I didn't. You are pretending you had never heard of him referred to as not a republican.

I'm done playing make believe with you people. If you want to debate facts, fine. But I'm not taking Trolly to see the King with you.

 

[xBiffx]

How is a signed law not an enforceable contract?

Thanks Obama!

 

[xBiffx]

Dude don't go all texashiker or xbiffx on us.

Suck me dry.

 

[nageov3t]

shouldn't the Unions and the legislature have made sure it was constitutionally sound before agreeing to it?

iirc, it violates some section of the NJ state constitution that says that taxpayers have to vote on and approve these kind of funding increases.

 

[KB]

All governors are doing this. This is the reason we have a pension crises:
http://en.wikipedia.org/wiki/Pensions_crisis

Its happening in Los Angeles, Baltimore, Detoit, Chicago. Its mostly happening in big cities where previous administrations made promises that later governors can't keep.
I am no fan of Gov Christie but most governors have little choice to resolve the issue except to reduce pension benefits or raise taxes and raising taxes is far more likely to get you ousted than underfunding pensions.

This is why the 401k was invented, so you know and can plan out your personal retirement benefits and hopefully not worry about the whims of future governors.

 

[nageov3t]

All governors are doing this. This is the reason we have a pension crises:
http://en.wikipedia.org/wiki/Pensions_crisis

I would say it's more effect than cause.

for years, governors of both parties in NJ promised public employees the moon in exchange for their vote, without ever making sure we could actually provide what was being offered. now, that bill is coming due and the government is realizing we can't actually afford to keep all the promises that were made.

 

[Jhhnn]

All governors are doing this. This is the reason we have a pension crises:
http://en.wikipedia.org/wiki/Pensions_crisis

Its happening in Los Angeles, Baltimore, Detoit, Chicago. Its mostly happening in big cities where previous administrations made promises that later governors can't keep.
I am no fan of Gov Christie but most governors have little choice to resolve the issue except to reduce pension benefits or raise taxes and raising taxes is far more likely to get you ousted than underfunding pensions.

This is why the 401k was invented, so you know and can plan out your personal retirement benefits and hopefully not worry about the whims of future governors.

Yeh, it's much better to enjoy the tender mercies of the wolves of Wall St.

 

[brycejones]

Suck me dry.

Stop being an attention whore.

 

[brycejones]

except what I said was true. You are pretending that I said stuff I didn't. You are pretending you had never heard of him referred to as not a republican.

I'm done playing make believe with you people. If you want to debate facts, fine. But I'm not taking Trolly to see the King with you.

You said you were David Hasslehoff. Are we really debating facts?