N.J. Gov. proposes using lottery funds to fix pension hole

Comment #31

Millionaireclub — Tue, 14 Mar 2017 22:10:49 GMT

Trump more corrupt than anyone. So many dealings in Russia, Real Estate discrimination, Tax Evasion, Bankruptcies, Wikileaks, Failure to show Taxes, Sexual assaults, Ponzi schemes, etc.; and these are the things that we know about (not the stuff we don't know about); it will be hard for anyone to take him seriously. He would have to lead by example and stay off Twitter, to get some respect.

Comment #30

GeneralMac — Sun, 05 Mar 2017 18:13:11 GMT

(IMHO) I like to see states designate lottery profits to a very defined place that benefits most and other wise would not be funded.

Georgia and Arkansas do just that.

Their profits go to college scholarships for residents that meet the criteria.

Not vague ( very defined) and something that would not be funded w/o a lottery.

Comment #29

OneTrickpony — Sun, 05 Mar 2017 15:43:56 GMT

As someone who was born and raised in New Jersey, I have this to say to Christy: Fagitabowdit.

Comment #28

Prob988 — Sun, 05 Mar 2017 01:36:20 GMT

Turn it over to Putin?

Putin's boy Trump has a boy named Christie who is already running the state (in to the ground, much as Putin's boy will run America into the ground in order to pay off his debts to, um, Putin.

Comment #27

dpoly1 — Sat, 04 Mar 2017 14:58:25 GMT

And when you win, you can pay extra taxes to fund public pensions

Comment #26

wander73 — Sat, 04 Mar 2017 14:17:12 GMT

Most lottery winners can't even invest the money correctly as well as the principal and interest. Isn't it amazing what some people learn from the lottery as well.

I already have a backup plan if I were to hit.

Comment #25

Bleudog101 — Sat, 04 Mar 2017 12:47:13 GMT

And look what happened to Revel. I really enjoyed that very unique casino especially before they stopped it from being non-smoking. Shuttered up and may never re-open; three in a row Showboat, Trump Taj Mahal and this one all closed down. NJ taxes the heck out of the casinos and Atlantic City government is very bloated.

Comment #24

Goteki54 — Sat, 04 Mar 2017 11:01:08 GMT

This is in essence a proposal to rob from the children to pay the adults, how sad and pathetic. Lottery proceeds are earmarked for education and should locked to remain for that purpose. Since under New Jersey's state's constitution proceeds from the lottery must be spent on state institutions and education, the voters would have to vote on an amendment to change their state constitution to allow this which I doubt seriously many in the state would vote in favor of.

Comment #23

lmarozzi — Sat, 04 Mar 2017 04:34:20 GMT

The Chris Christie cabal took (stole) $300 million from the state pension fund a few years back to give to the Revel casino owners who were struggling to complete their 'project' and were out of money. So, IMO, Christie and cohorts should be putting that $300 million BACK into the state pension fund and NOT from lottery commission monies. They are corrupt as can be!! They do as they please and it's about time we New Jerseyans voted their butts out of office

Comment #22

savagegoose — Fri, 03 Mar 2017 22:53:57 GMT

eventually, when you win the lotto, they will promise you a pension. when you turn 65 hahaha

Comment #21

mypiemaster — Fri, 03 Mar 2017 18:00:10 GMT

I need the lottery money for pension holes, donut holes and all kinds of HOHOS. How else am I supposed to get my sugar high? If you don't like it, I say, SIT DOWN AND SHUT UP .

Comment #20

wander73 — Fri, 03 Mar 2017 17:43:51 GMT

Here is another problem and it's not only New Jersey. Where did they get to borrow $1 million dollars back in the early 1900's and build interest?

I recall watching something on youtube and the people I think were in Washington D C.

After reading your comment as well you're absolutely right. When Christie was running his first campaigns for New Jersey as before he won governor people loved him. Then as time went on it sounded like he was bullying everyone.

The sad part is to... [ More ]

Comment #19

Millionaireclub — Fri, 03 Mar 2017 02:30:42 GMT

I seriously hope the people in that state STOP playing the lottery. The lottery is not free money for the government, or the political figures that are unable to successfully budget, that are not fiscally responsible, to just go and get money from the lottery because the want to? This is not good.

Comment #18

Millionaireclub — Fri, 03 Mar 2017 02:26:56 GMT

The Lottery should not be utilized to pay pensions, that employers should in fact be paying. How can he propose that the money that everyone pays into, go to selective individuals with pensions? What if you are a person that does not have a pension, but your money goes to someone esles' pension? This is not what the lottery is designed for; this will open up all kinds of worms and eventually destroy what the lottery is designed for. Fat boy Christie is trying to pimp the citizens in his state ev... [ More ]

Comment #17

wander73 — Thu, 02 Mar 2017 23:14:12 GMT

He had a book deal and part of the vote would have paid his people after he leaves office. That vote was rejected. Awesome point

Comment #16

RL-RANDOMLOGIC — Thu, 02 Mar 2017 20:15:04 GMT

This is a very sad day, the government has become a burden to the people and sucking them dry. Too many federal

and state jobs IMO have been added in recent years. We need to shrink the government by at least 75% and let

the axed employees deal with it on their own like the rest of us have had to do for many years. I wonder how many

government employees lost their pensions when the bubble burst. I am guessing none of them.

RL

Comment #15

Raven62 — Thu, 02 Mar 2017 18:38:38 GMT

Many more swamps to drain besides Washington

Comment #14

sully16 — Thu, 02 Mar 2017 18:00:06 GMT

Ditto for Michigan.

Comment #13

wander73 — Thu, 02 Mar 2017 16:15:10 GMT

Very simple. Stop voting. Don't vote for any of these politicians. But unfortunately people and the sheep will listen on.

It's just like that gas tax. THere were people that voted for it and guess where that money is going to go. Just another scam for politicians to do to screw the people even more.

Comment #12

Bleudog101 — Thu, 02 Mar 2017 15:45:46 GMT

How are things in Framingham. That's where I was born and grew up in Holliston.

Comment #11

Bleudog101 — Thu, 02 Mar 2017 15:45:02 GMT

Hope Bozo Bevin here doesn't hear about this asinine proposal. They're having similar problems here, too similar in fact.

Comment #10

lucky6025 — Thu, 02 Mar 2017 15:09:03 GMT

No, this is how politicians explain their taking money from one account to cover another and then never putting that money back or stop taking from that account. Then down the road now have 2 then 3 then 4 accounts all in trouble. then that politician retires with huge retirement plan with all kinds of perks and leaves mess for next clown. Now the people depending on those accounts are left holding bag of nothing. The Money taken from ordinary people pay check/taxes is used to pay certain bills

Comment #9

Tialuvslotto — Thu, 02 Mar 2017 14:54:45 GMT

Yeah, but in this case the patch would cover their a

Comment #8

Gleno — Thu, 02 Mar 2017 14:47:43 GMT

3/2/17

How interesting to hear that lottery money considered to fund public pensions in New Jersey.

NJ budget up to $34Billion?

Unfunded Pension liabilities $66.2Billion?

What higher education programs were funded with lottery monies?

Makes one rethink any annuity payment option as a bad bet when playing those Big jackpots with annuity choices.

Comment #7

lucky6025 — Thu, 02 Mar 2017 12:08:24 GMT

I have an idea get rid of all politicians and judges perks and put that money in the funds needed. I would rather see the money go to a good cause.Plus you could take all people in prison that came into this country illegally and send that back where the came from, save on food/housing/medical/court cases.

Comment #6

Raven62 — Thu, 02 Mar 2017 03:42:02 GMT

Make New Jersey Great Again

Comment #5

sully16 — Thu, 02 Mar 2017 03:21:01 GMT

Yep, those pensions, hurt many States and Cities.

Ponzi not working the way they intended.

Comment #4

wander73 — Thu, 02 Mar 2017 03:06:23 GMT

It's a great idea but I totally understand where you're coming from because I actually live in the area but obviously Philadelphia so I know exactly what you're bringing up and Corruption

Comment #3

noise-gate — Thu, 02 Mar 2017 02:55:13 GMT

Chris's proposal would never fly out here. That's like cutting out a piece of cloth in a garment to cover another hole in same the fabric. What's that old saying when you in a hole you stop digging.

Comment #2

Raven62 — Thu, 02 Mar 2017 02:42:03 GMT

Sounds Like: Rob from Peter to Pay Paul

Comment #1

destinycreation — Thu, 02 Mar 2017 02:28:00 GMT

Under the state Constitution, lottery proceeds must be spent on state institutions and state aid for education. The state pays a number of costs on behalf of local school districts that can be categorized as aid, including the employer share of the Teachers' Pension and Annuity Fund.

It's unclear where that leaves the programs currently funded by the lottery, though the governor's office said they will be covered by the state budget. But without the dedicated funding source from the lottery... [ More ]

N.J. Gov. proposes using lottery funds to fix pension hole

Lottery Post — Thu, 02 Mar 2017 00:39:05 GMT

New Jersey Gov. Chris Christie used his budget address Tuesday to take a final stab at saving government worker pensions, proposing to dedicate revenues from lottery ticket sales to the distressed fund.

Christie suggested the state transfer the lottery to public pensions to provide a dedicated source of revenue and dramatically reduce the amount actuaries say the state owes.

Christie said pledging the lottery as an asset to the pension fund would have the same effect as a cash infusion, s... [ More ]