Corzine a CWA “deal is near”

From Bloomberg.com today:

New Jersey’s largest public employees union may accept an 18-month wage freeze in return for job security from Governor Jon Corzine’s administration, according to two people familiar with state budget talks.

The Communications Workers of America said it would forego 3.5 percent raises in July of 2009 and 2010 in exchange for the promise of no firings, the people said. The agreement also would reduce the 12 days of unpaid leave Corzine sought to five days and include the skipped raises into future pension calculations, said the people, who declined to be identified because the offers haven’t been officially made.

Unfortunately the crux of New Jersey’s budget woes has not even begun to have been addressed. The state pension program is an outmoded and unsustainable program. It needs an extreme makeover, but there is not one politician that has the balls to touch that one.

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