PolitickerNJ.com has this tidbit today:

“The Corzine administration only touts the one-year ‘savings’ for municipalities and school districts,” Pennacchio said. “It has said nothing about the billions of dollars that property taxpayers must put into the pension funds beginning in three years to make up for delayed contributions and lost investment income. It’s far from certain that local governments will find it easier to make higher payments in three years than it is to make lower payments today.

Jon Corzine promised “no gimmicks” and now he is completely backtracking on that promise. It seems that he speaks only to hear the sound of his own voice, but like a true politician doesn’t mean a word thathe says.

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