On both sides of the isle, these are all political patronage positions. Politicians treat public commonwealth as their private property. The budget of both the Legislature and the Executive branch amount to about $700 million – almost 2.5% of the total state budget.
That is ludicrous.
How ironic this is because it comes to light almost at the same time as I considered the feasibility of cutting 90% of both Legislature and Executive branch funding if I become governor in 2013.
And the reason why I contemplated this draconian reduction is that, after years of irresponsibility, continued by Christie who has refused to fully fund the pension system, the least the government can do is to place those funds into the public employees pension system.
The recently passed pension reform has improved the fiscal situation of New Jersey but its effects won’t last long because the deficiency in government contributions rapidly generates a negative accrual – the money that is not there plus the interests and dividend that it does not generate. Several years from now, New Jersey will be back at the position where it was before the reform.