Thank Christie Whitman for $58B headache

Whitman balanced budget by dropping contributions to plan.

Local, county and state retirees in New Jersey's retired employees' health plan will draw small comfort from a report that sets the underfunding of the plan at $58B, versus an earlier estimate of $78B.

The New York Times scooped the Ledger on the issue yesterday. Today's Ledger story, though, points out that we have Christy Whitman to thank for the mess. She stopped funding the plan in 1994 to balance the state budget.

But your anger should be directed at the Legislature as well, since they went along for the ride.

Now, WE must pay the piper.

---

More info --

• New York Times - 7/25/2007: "$58 Billion Shortfall for New Jersey Retiree Care"
  
• Ledger - 7/26/2007: "State's tab for retirees' health care is $58B"
  

-- Dan Damon

View today's CLIPS here. Not getting your own CLIPS email daily? Click here to subscribe.

ARCHIVED POSTS OF PLAINFIELD TODAY FROM 11/03/2005 THROUGH 12/31/2006 ARE AT
http://plainfieldtoday.blogspot.com/