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Old 10-16-2008, 07:01 AM
 
Location: Savannah GA/Lk Hopatcong NJ
13,384 posts, read 28,660,475 times
Reputation: 12025

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A major aspect of the proposal is to invest some state pension funds in New Jersey's community banks so they can lend to consumers such as small businesses worried about making payroll or people wanting to buy a car, said Assemblyman Louis Greenwald, D-Camden, chairman of the Assembly Budget Committee.

The state pension fund is already a mess!!!!!

Corzine to push $150M stimulus plan for N.J. today | Daily Record | Daily Record
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Old 10-16-2008, 07:10 AM
 
Location: Stewartsville, NJ
7,577 posts, read 22,575,334 times
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Quote:
Originally Posted by njkate View Post
A major aspect of the proposal is to invest some state pension funds in New Jersey's community banks so they can lend to consumers such as small businesses worried about making payroll or people wanting to buy a car, said Assemblyman Louis Greenwald, D-Camden, chairman of the Assembly Budget Committee.

The state pension fund is already a mess!!!!!

Corzine to push $150M stimulus plan for N.J. today | Daily Record | Daily Record
I like the idea. Investing in NJ and earning interest for NJ workers. I'm for it! The money will be insured so no risk..right?
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Old 10-16-2008, 07:25 AM
 
Location: Savannah GA/Lk Hopatcong NJ
13,384 posts, read 28,660,475 times
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Quote:
Originally Posted by wileynj View Post
I like the idea. Investing in NJ and earning interest for NJ workers. I'm for it! The money will be insured so no risk..right?

PLEASE!!! Have you any idea of what a mess the state pensions are in because of borrowing from it in the past??

I feel for anyone falling on hard times but it's not the state..taxpayers..responsibility to freakin bail them out..we are so headed for a socialist country it gives me nightmares
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Old 10-16-2008, 08:33 AM
 
Location: NJ
2,111 posts, read 7,941,388 times
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Pension is one thing, a family member of mine gets a pension from the state. What I didn't know is while working, the state not only covered her for medical, but the spouse also who doesn't even work for the state. Is this true? If so, where does this money come from paying medical insurance for family members who don't even work for the state? This is crazy if true.
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Old 10-16-2008, 08:41 AM
 
5,616 posts, read 15,494,187 times
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one of the comment in this article is construction (unions), schools (unions) my question kate is why cant anyone stand up to the union?
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Old 10-16-2008, 08:42 AM
 
9,313 posts, read 16,622,517 times
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Quote:
Originally Posted by taurus430 View Post
Pension is one thing, a family member of mine gets a pension from the state. What I didn't know is while working, the state not only covered her for medical, but the spouse also who doesn't even work for the state. Is this true? If so, where does this money come from paying medical insurance for family members who don't even work for the state? This is crazy if true.
Teachers who retire after 25 years do not pay for medical coverage and their spouses are also covered at no cost. State workers also have generous medical and pension benefits. Which is one of the reason NJ is so much in debt. No wonder Goldman Sachs got rid of Corzine.
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Old 10-16-2008, 08:53 AM
 
Location: NJ
2,111 posts, read 7,941,388 times
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That kills me, so I am paying out of pocket for my cobra (healthcare) and NJ Taxes towards state workers and family's health care costs not only while they are working, but when they retire.
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Old 10-16-2008, 08:57 AM
 
Location: Savannah GA/Lk Hopatcong NJ
13,384 posts, read 28,660,475 times
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Quote:
Originally Posted by Ellwood View Post
Teachers who retire after 25 years do not pay for medical coverage and their spouses are also covered at no cost. State workers also have generous medical and pension benefits. Which is one of the reason NJ is so much in debt. No wonder Goldman Sachs got rid of Corzine.

The point I'm trying to make is he has no business borrowing from this fund to bail out people being foreclosed on and all the other things in this article......the pension fund is in deep trouble from Whitman borrowing from it

as for the insurance question how is that any different from the private sector, except for the co pay?? I'm insured under my husbands because where i work the $$$$$ is outrageous, it's cheaper for us for me to be on his policy
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Old 10-16-2008, 09:48 AM
 
5,340 posts, read 13,932,960 times
Reputation: 1189
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Originally Posted by stevemorse View Post
one of the comment in this article is construction (unions), schools (unions) my question kate is why cant anyone stand up to the union?

VOTES and LOBBY $ that's why.
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Old 10-16-2008, 09:51 AM
 
5,340 posts, read 13,932,960 times
Reputation: 1189
State benefits are out of control in NJ and if we ever had a leader that was really willing to take that on and explain that things HAVE to be a little more in line with what the private sector is (which right now, is CRAP) I'd be all for them. But I don't see it happening anytime soon.

I'm not an economist and I'm on 4 hrs sleep today - but I can tell that ALL of our "leaders" are desperate and grasping at straws now. I will read the article when I nap (or tomorrow!) and see if I get it more.
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