The Morning Briefing - February 25, 2015
TRENTON – Depending on with whom you speak, Gov. Chris Christie's $33.8 billion budget demonstrates the ability of a strong, fearless leader able to make tough decisions in times of strife. Or, if you are a Democrat, the spending plan needs an extreme makeover, with plenty of lipstick and rouge, to be palatable. The big theme: the governor wants to rewrite the public pension system, with the state kicking in less.
TRENTON – Yes, state budgets can be boring, and who the heck is getting pensions these days? But bear with us on this one. We’ll only hit the highlights, according to our no-tax, no-way governor:
- Transportation Mess: Amazingly, Christie didn’t even mention the Transportation Trust Fund, hopelessly buried in $1.6 billion in debt. Because the state owes so much money, it can’t borrow any more to repair all those decrepit bridges and roads that are shattering your axles. One idea has been a gas tax, as the only viable solution to an unsolvable mess. Christie isn’t biting – the national GOP would never allow it.
- State Pension Mess: The governor wants to pay $1.3 billion into the pension system, notably below the initial promise of $2.25 billion. But he also wants to overhaul the system if it has a chance to survive. Democrats, of course, say the governor should slap around millionaires and business owners with more taxes as the way out.
- School Funding Mess: Well, total aid to schools would jump by nearly $1 billion, but it is doubtful to have any effect on Little Johnnie sitting in the third row. About $400 million of the bump will funnel to the teachers’ pension fund, while $45 million goes to health care costs to retired teachers, still a bit shaky after all those years dealing with Little Johnnie and his crappy apples.
MOORESTOWN – In vintage Chris Christie style, the governor is now hitting the road to promote his $33.8 billion plan. He will be at his 128th town hall of his administration today, and the first of its kind this year. He will also be on NJ 101.5’s “Ask the Governor” program at 7 p.m. tonight. It is great to have Christie here for the moment; all many have asked is that he be active and accessible in his current job.
TRENTON – There was all this talk this week about the apparent thawing relationship between Gov. Chris Christie and the New Jersey Education Association, who were apparently teaming up to solve all these pension problems. But, as NJ.com reports, the union is retreating from the bear hug, saying the governor “overstated” the Odd Couple relationship. The union dashed off a statement with a fat clarification: "We have not agreed to any changes to pensions or health benefits. We have only agreed to continue looking at all solutions…”
ATLANTIC CITY – The Florida developer who struck a deal to buy the $2.4 billion Revel for pennies on the dollar has managed to find a way to buy it for even less. The twice-bankrupt casino is now going for the absolute bargain-basement price of just $82 million, with the developer promising to actually throw some money into the building and have it open by summer as something hopefully more attractive than a Kmart outlet.
IN OTHER IMPORTANT NEWS
MANCHESTER-BY-THE-SEA, Mass. – At least one guy has figured out the silver lining to all the New England snow: shipping it all to people living in warmer climates for $89 for six pounds. Boston.com reports each shipment can produce 10 to 15 snowballs. There’s also a 10-pound package priced at the special rate of $119. Check out the offerings at ShipSnowYo.com. In the spring, we plan to sell our grass clippings to those residing in the Sahara.
THIS DAY IN HISTORY
It was this day in 1969 that the Beatles begin recording Abbey Road, another lame excuse to use the Morning Briefing header.