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View Full Version : This is too much. #398



Qtec
12-21-2010, 05:29 AM
link (http://videocafe.crooksandliars.com/heather/afl-cio-nj-s-christie-used-60-minutes-plat)


<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">From the AFL-CIO blog -- NJ’s Christie Used ‘60 Minutes’ Platform to Attack Public Workers:

Last night’s “60 Minutes” report on the budget crises and shortfalls many state and local governments face could have been written by anti-worker, anti-union New Jersey Gov. Chris Christie (R), who used his airtime to slam public employees and their unions as the root cause for the huge budget gaps. Yet 60 Minutes did not give one second of airtime to a public employee or union spokesperson.

Throughout the report, writes Media Matters’ Jamison Foser: CBS allows Christie, New Jersey’s Republican governor, to launch attacks on unions and make unsupported claims about budget problems, all without ever challenging his assertions and without including substantive disagreement from Christie critics… If Christie didn’t get a producer credit on the 60 Minutes segment, he should have. </div></div>




After 12 mins of Christie rant, the interviewer finally asks a real question. Turns out that,,,,,,,,,



<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> It's also the truth that <u>some of the responsibility for New Jersey's pension woes lie at the doorstep of the governor's mansion.</u> <span style='font-size: 14pt'>Christie and his predecessors have <span style="color: #990000"><u>failed to contribute to the state's share of its pension obligation in 13 of the last 17 years, one of the reasons the fund is going broke.</u></span></span> <span style='font-size: 20pt'>Christie says it's ancient history.</span>

"We spent too much on everything. We spent too much. We spent money we didn't have. We borrowed money just crazily. The credit cards maxed out, and it's over. It's over. We now have to get to the business of climbin' out of the hole. We've been diggin' it for a decade or more. We've gotta climb now, and a climb is harder. Gotta do it," he said.
</div></div>


What a slime ball. Bought and paid for.

Q

LWW
12-21-2010, 06:17 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">"We spent too much on everything. We spent too much. We spent money we didn't have. We borrowed money just crazily. The credit cards maxed out, and it's over. It's over. We now have to get to the business of climbin' out of the hole. We've been diggin' it for a decade or more. We've gotta climb now, and a climb is harder. Gotta do it," he said. </div></div>

And, amazingly yet again, you post as "PROOF" evidence that totally contradicts your position?

LWW

pooltchr
12-21-2010, 09:26 AM
Breaking it down, he said
Excessive union wages and benefits contributed to our fiscal problems.
We have been spending too much money we didn't have.
We need to stop spending money we don't have.

Sounds quite reasonable to me!


Steve

Qtec
12-21-2010, 08:49 PM
Did you watch the video?


Did you miss this part.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Christie and his predecessors have failed to contribute to the state's share of its pension obligation in 13 of the last 17 years, one of the reasons the fund is going broke. Christie says it's ancient history. </div></div>

Breaking it down, Christie and his cronies are saying, "Sorry guys, we spent the pension money on other things"... and now he wants the workers to pay for his incompetence.

The guy is a big fraud.


Q

LWW
12-22-2010, 02:18 AM
You almost get it again.

NJ has been a heavy democrook controlled state for decades.

Finally they have a governor which is trying to fix the mess that past NJ statehouses created by promising state employees ever expanding benefits while funding none of it.

It true hyperpartisan fashion you lay down your dignity to defend the guilty whilst condemning the rescuer.

LWW &lt;---Unsurprised.

Qtec
12-22-2010, 05:00 AM
Pension Fraud by New Jersey Is Cited by S.E.C. link (http://www.nytimes.com/2010/08/19/business/19muni.html?ref=nyregion)

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Federal regulators accused the State of New Jersey of securities fraud on Wednesday for claiming it had been properly funding public workers’ pensions when it was not.


The commission said that from 2001 to 2007, New Jersey claimed to have money set aside in a “benefit enhancement fund” as part of a “five-year plan” to pay for new benefits for teachers and general state employees. In fact, the fund was an accounting illusion and no such money was available. </div></div>



<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Behind Fraud Charges, New Jersey’s Deep Crisis
By RICHARD PÉREZ-PEÑA

New Jersey got in trouble with federal regulators this week for misrepresenting the health of its pension funds. But the bigger problem may be what the state was trying to hide: a long-brewing crisis in its ability to pay retirees.

<span style='font-size: 14pt'>Experts say that governors and legislators, Republicans and Democrats, have all contributed to the problem </span>by refusing to put state money into the funds as they should have. And even if benefits are cut and taxes raised, they said, there is no obvious fix in sight.

“The whole political culture evolved where the purpose in Trenton was to spend and defer the problems until later,” said James W. Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University.

The state’s most recent report said that as of June 2009, the pension funds should have had assets of $112 billion to meet their future obligations, but had only $66 billion — one of the largest shortfalls, known as unfunded liability, in the country. The situation is probably worse today: The state is supposed to contribute about $3 billion a year to the funds, but amid huge budget deficits and spending cuts, it is in the second consecutive year of contributing nothing.

On Wednesday, New Jersey became the first state ever charged with fraud by the Securities and Exchange Commission, for illegally papering over the pension fund problems in pitches it made to bond investors. The case was simultaneously filed and settled with an order to the state to stop its deception.

The reaction from Trenton was muted. The office of Gov. Chris Christie, a Republican, declined to comment. The State Senate president, Stephen M. Sweeney, a Democrat, issued a statement that called for reform and a resumption of state contributions.



Christine Todd Whitman became governor in 1994, and to balance out her deep tax cuts, she reduced the payments to the state’s pension funds. That contributed to the growth of the unfunded liability.

In 1997, Ms. Whitman, a Republican, had the state borrow $2.75 billion to deposit in the pension funds, to address the liability and keep annual payments low. That infusion, plus the run-up in the stock market, gave the funds a surplus for a few years. But it also helped entrench the habit of paying little or nothing into the system from the state budget, and Ms. Whitman and her successors consistently paid a fraction of what was recommended.

From mid-1999 to mid-2006, the state contributed an average of about $23 million a year; keeping up with the formulas would have required more than $600 million a year. </div></div>


Its quite clear to me that the cause of the problem is incompetent politicians, Dems and Reps, not the workers.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">anti-union New Jersey Gov. Chris Christie (R), <span style='font-size: 14pt'>who used his airtime <u>to slam public employees and their unions as the root cause for the huge budget gaps.</u></span> </div></div>


The truth?

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">“Chris Christie is more interested in scoring political points than solving state and local budget challenges and getting the economy moving. The fact is,<span style='font-size: 14pt'> hundreds of thousands of public employees, just like private sector employees, have been laid off and taken pay and benefit cuts – even as Wall Street executives lined their pockets with taxpayer money and took home huge bonuses.</span> And as Steve Kroft’s report noted, much of the pension problem stems from the fact that politicians <u>did not contribute to their pension funds.</u>

<span style='font-size: 17pt'>“Contrary to what Christie would have Americans believe, public employee pensions are not the problem. The average pension for an AFSCME member is just $19,000, and eighty percent of this comes from investment returns and contributions by the employees themselves. </span></div></div>


Q

Q

Chopstick
12-22-2010, 10:01 AM
<span style="color: #000099">Don't you find it the least bit odd that neither the bond underwriters or the bond attorney were named in the complaint? Why aren't you yelling "Wall Street Whitewash" on this one?</span>

LWW
12-22-2010, 05:05 PM
My guess is because he wasn't told to.

LWW

Qtec
12-23-2010, 01:48 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Chopstick</div><div class="ubbcode-body"><span style="color: #000099">Don't you find it the least bit odd that neither the bond underwriters or the bond attorney were named in the complaint? Why aren't you yelling "Wall Street Whitewash" on this one?</span> </div></div>

Chopstick, read my original post.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Last night’s “60 Minutes” report on the budget crises and shortfalls many state and local governments face could have been written by <span style='font-size: 20pt'>anti-worker, anti-union New Jersey Gov. Chris Christie (R), who used his airtime to slam public employees and their unions as the root cause for the huge budget gaps. </span></div></div>

This was the same story they pushed on GM etc. Its the same story they have been pushing ever since Wall St and the banks brought the country to its knees. Whoever is responsible for the pension shortfall, it isn't the workers.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> “Contrary to what Christie would have Americans believe, public employee pensions are not the problem.<span style='font-size: 20pt'> The average pension for an AFSCME member is just $19,000, and eighty percent of this comes from investment returns and contributions by the employees themselves.</span></div></div>

The two top Goldman Sachs execs just got a $24 Million bonus and a tax break.

Q

LWW
12-23-2010, 04:11 AM
And they G-S folks then go to work for Obamao ... at which point your doublethink kicks in forcing you to fawn over their godlike wisdom and integrity ... making sure that nothing happens to anyone who was involved in any of the numerous scams pulled.

LWW