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Opinion

Not contributing to N.J. teacher and state worker pensions is the real fraud

Not contributing to N.J. teacher and state worker pensions is the real fraud
BY MURRAY SABRIN
COMMENTARY

The State of New Jersey was accused by the Securities and Exchange Commission of committing fraud when it issued bonds between 2001 and 2007. According to the SEC complaint, the State did not fully disclose to bond buyers the extent of the growing shortfall in the state's two major pension plans.

Although the State just settled the SEC case without admitting or denying the allegations in the complaint, this episode highlights the misfeasance and probable malfeasance on the part of both Republican and Democratic state officials. Yet, the SEC has not charged any individual in the case.

Rather than closing the books on this issue, the SEC and certainly an independent commission appointed by Governor Christie should investigate the actions or nonactions on the part of the DiFrancesco, McGreevy, Codey and Corzine administrations regarding the pension payments that should have been made to adequately provide retired teachers and state workers with their promised benefits.

Every former governor and state treasurer, as well as key legislative leaders and others should be made to testify in an open forum about their disregard of sound financial polices while they were in office. They should be asked the tough questions about their irresponsible decisions during 2001 and 2007 that has led to a massive underfunding of state pension funds.

 

Increasing N.J. sales tax to offset property taxes is not an original idea

Increasing N.J. sales tax to offset property taxes is not an original idea
BY MICHAEL MORRIS
NEWJERSEYNEWSROOM.COM
COMMENTARY

It seems as though Middletown's appointed Republican mayor Gerry Scharfenberger has a rather novel, but highly unoriginal idea to help unburden tax paye...

Turning Meadowlands into a racino is common sense

Turning Meadowlands into a racino is common sense
BY RALPH R. CAPUTO AND CONNIE WAGNER
COMMENTARY

The news is coming quickly these days when it comes to gaming, and unfortunately none of it is all that good for New Jersey.

First, Gov. Chris Christie's a...

Obama’s support of Ground Zero mosque was damaging

Obama’s support of Ground Zero mosque was damaging
BY CARL GOLDEN
NEWJERSEYNEWSROOM.COM
COMMENTARY

It's called "stepping on your own story" and avoiding it is a lesson drilled into politicians before they ever leave the cradle.

Last week, President Obama ...

Pampering has led to generational changes in the U.S.

Pampering has led to generational changes in the U.S.
BY LUIGI D'ONORIO DEMEO
COMMENTARY

Have you been to a tee-ball game lately? Did you hear the score? You may be surprised to learn that the score is not kept and there are no league standings, such as wh...

New Jerseyans should know county and municipal dollars spent on lobbying

New Jerseyans should know county and municipal dollars spent on lobbying
BY JEFF BRINDLE
COMMENTARY

Benjamin Franklin lobbied the British parliament on behalf of the Continental Congress, making him the first American lobbyist.

Many individuals have followed in Franklin's foo...

Frustration over oil and economy spills over at Obama

Frustration over oil and economy spills over at Obama
EDITORIAL CARTOON BY MIKE SCOTT
NEWJERSEYNEWSROOM.COM

What needs to be cleaned up? Is it the Gulf? The economy? The wars in Afghanistan and Iraq? Unfortunately, it's all of them ... and that has the cou...

Social Security is one insurance policy we know is fair

Social Security is one insurance policy we know is fair
BY SY LARSON
COMMENTARY

As we reflect on those 75 years, let's remember what life was like without this vital program. Before August 14, 1935 when President Franklin D. Roosevelt signed the Social Secur...

Think of Social Security as Bernie Madoff on steroids

Think of Social Security as Bernie Madoff on steroids
BY MURRAY SABRIN
COMMENTARY

The Social Security program turned 75 years old on August 14th and the political class and their allies in the media, academia and the business world toasted the event extoll...

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