New Jersey to Follow Illinois Down the Drain

Jon Economy, Government, Market Commentary, Politics, Real Estate

The New Jersey State Assembly has begun the pursuit of a constitutional amendment to guarantee pension payments for government workers over all other types of state spending. This would naturally include all politicians, which is why they are introducing it. Because spending on education, health, crime, environment, welfare etc. is not guaranteed by the Constitution and is subject to elimination to pay for the pensions of 800,000 current and former public employees, politicians want to amend the Constitution and that means property taxes will SOAR. This means the people of New Jersey have to stop this insanity for once; it is a constitutional amendment, that is it. They will rob everything you have as a constitutional requirement.

This post was published at Armstrong Economics on May 11, 2016.