N.J. Pension Reform: Screaming at it or solving it?

Wendell Steinhauer, NJ Teachers' Union President, on NJTV, 02/07

The impact of a headline appearing in the print edition of a newspaper that is unlike that for the same story written by the same author on the same day in that newspaper’s digital edition can project a significantly skewed message.

EXAMPLE:  (At least for those who care for such distinctions.)

Thursday’s print edition of The Star-Ledger displayed a front-page, above-the-fold banner that read, “N.J. Unions’ Outrage,” while the headline for the same story in the digital edition read, “Second try on N.J. pension overhaul a much bigger lift.”

Both statements are true, but the second banner published on the Internet emphasizes a more practical view of the problem and attempts to move past highly-charged feelings.

One has to read beyond the first page and into the rest of that news article to get the full impact of what’s being said.

 

Doing so brings the reader to the discovery of several key statements attributed to a source that many might not have predicted – Wendell Steinhauer, president of the New Jersey Education Association (NJEA).

In his story, writer Christopher Baxter reports that Steinhauer “said the bad feelings over 2011 and the need to make the payments [into the pension plan] were separate and apart from the need to come up with a plan to put the pension system on a better footing.”

Baxter quotes the NJEA president urging everyone to, “Let’s keep the emotions out and solve the problem . . . If we do nothing and pensions go away, does it really matter what he [Chris Christie] said or how you [NJEA members] felt? 

 

What you’ll really feel is that you don’t have a pension check coming each month.”

Bingo!

The scope of underfunding in state pensions has grown far too large, far too long for redemption by any means other than through rational financial reform.  It’s too late to go back.

 

We might as well ask an out-of-shape couch potato to effectively compete in a ten-mile run with a young, well-tuned long-distance marathon runner.

Ain’t gonna happen.

Thanks for reading and keep on the lookout for spring.

Disclosure:  As stated in previous posts, my spouse is the beneficiary of a NJ pension.