Generational theft is the term used by the analysts and that is correct.
Christie is balancing the budgets with gimmicks. When the state does not make timely contributions to the pension funds, those moneys that are not there fail to accrue any earnings so the loss is compounded – as the interest and dividend on contributions would be if the were made when due.
In short, this governor is letting the education system, the infrastructure, and the public pension systems go south in an expedient transfer of fiscal and structural obligations to the next administration. After all the bombastic 4 years of Christie’s demagoguery, New Jersey will be in for a rude awakening.