NJ WATCHDOG: 7 deadly sins of NJ pensions = $104-B debt

For immediate release:


The fiscal future of New Jersey and Gov. Chris Christie’s presidential ambitions hang in the balance as Trenton finally faces the $104 billion deficit in the state’s retirement system.

One key is whether Christie and the Legislature can agree to plug costly loopholes and stop blatant of public pensions. If not, many public officials will continue to gorge themselves at the public trough while others make sacrifices.

A long line of governors and legislative leaders — past and present, Republicans and Democrats — share the blame for decades of unaffordable promises and political favors. As a result, pensions are underfunded by $51 billion, plus the state faces a $53 billion shortfall from retiree health benefits, according to the latest official numbers.

Joseph Blaettler is a poster boy for a governmental retirement system gone wild.

At age 46, Blaettler retired as Union City deputy police chief. Collecting nearly $135,000 a year from his pension, he will rake in more than $4.5 million by age 80, his statistical life expectancy. And that figure does not include the cost of his retiree health benefits.

“Politicians created this system, and I simply accepted what they gave me along the way,” Blaettler told New Jersey Watchdog. “If taxpayers want to get angry with someone, they need to ask their local and state politicians how they allowed the system to get to the point it is at.”

Christie is expected to propose a new round of reforms next month based on the findings of a special commission he picked to study the dilemma. The question is whether state officials can learn from their past mistakes.

During the past four years, New Jersey Watchdog investigations have focused on the “Seven Deadly Sins of New Jersey Pensions.” Reporter Mark Lagerkvist revisits the retirement shams, schemes, double-dipping, disability abuses, benefits giveaways, six-figure pensions and deadbeat behavior by state leaders.

The story is now online at http://watchdog.org/171777/deadly-sins-pensions.

President Obama's Weekly Address 5/5/12: A New Chapter in Afghanistan

WASHINGTON, DC— In this week’s address, President Obama spoke about his recent trip to Afghanistan, where he met with our brave troops and signed an historic agreement that will help put an end to the war. The goal of defeating al Qaeda is within sight, we have killed Osama Bin Laden, and the President has now signed an agreement with Afghanistan that details a new relationship in which the Afghans will soon be responsible for the security of their nation. As we look towards that future, we must also focus on the type of nation our troops return to. This is why the President called on Congress to take the money we are no longer spending at war, use half of it to pay down our debt, and use the other half to rebuild America. It’s time for America to make the choices that ensure a strong middle class where everyone a fair shot, everyone does their fair share, and everyone plays by the same rules.

Letter: Derailed Fiscal Policy, Empty Promises, Unfulfilled Expectations in Middletown

The following letter also appears online today over at the Atlantic Highlands Herald. This letter, written by Middletown Democratic candidate for Township Committee, Jim Grenafege, is an expanded version of the letter that I posted earlier today and appears online over at the Asbury Park Press.

This version of Mr. Grenafege's letter is much more hard hitting than what appears on the APP. Compare the two and let me know what you think, this newer version is much more hard hitting and has more specifics.

In his October 18, Atlantic Highlands Herald letter, “Real Solutions to Real Problems Needed to Put Middletown on Right Track”, Mayor Fiore admitted that Middletown government is derailed. I could not agree more.

True to form, he falsely blames years of excessive spending; unnecessary bonding; escalating taxation and debt, all cradled in Republican mismanagement, on the Middletown Democrats who somehow magically made elected Republicans spend our tax dollars. This is just more empty rhetoric to go with decades of empty promises, failure to openly communicate and thwarted taxpayer dreams: no flood control along the Bay Shore; no turf fields; a lake yet to be dredged; a $400 thousand master recreation plan gathering dust; high density housing zoned in Lincroft and planned development of open space at Bamm Hollow.

After Mr. Fiore strong-armed $500 thousand from library funds; took $350 thousand, for the second year in a row, from sewerage authority fees; used $1.3 million in public education funds; his so-called fiscal discipline required a 12% tax increase to cover $45 million of a $62 million budget. This lack of incumbent Republican fiscal discipline has Middletown looking at a projected $2 million shortfall for the 2012 Middletown budget.

Ask Mayor Fiore if he has a real solution. Past Republican practice points at raising taxes. During his term, he has contributed 22% to a 40% increase in taxes over the last five years. Past practice also points at adding to our $70 million in debt, which has increased 66% over the same five years.

Finally, at least $2.4 million of $4 million in “cuts” claimed by Mayor Fiore was onetime nonrecurring expenses that were never part of the 2011 budget.

In closing, Mr. Fiore notes that Middletown has been repeatedly named one of the Top 100 Places to Live by Money Magazine; but, Fiore fails to note that Middletown’s standing in the Magazine’s quality-of-life survey has eroded by 39% during the last four years.

Put a stop to over 30 years of poor fiscal policy and borrowing, empty promises and unfulfilled expectations. Please help our community get back on track: vote Grenafege and Fowler on November 8.


James Grenafege
Middletown Township Committee

Reality Check: We Can Afford Reform, We Cant Afford the Status Quo

Jared Bernstein, Chief Economist for the Vice President and Executive Director of the Middle Class Task Force, debunks the myth that we cant afford health insurance reform. To the contrary, not only has the President demanded that reform not add to the deficit in the short term, but reform is the only way to get skyrocketing health care costs under control that will be devastating for families, businesses, and government deficits in the long term under the status quo.