Real talk vs. B.S.
Citing Christie’s pension cuts and budget issues, S&P downgrades N.J. debt rating for the eighth time.
Like most successful politicians, Chris Christie is a gifted liar. The big man’s shtick is an oldie but goody. You tell voters, “We’re broke!” And then you hand a bunch of your Wall St. buddies the cash that the state allegedly does not have. All of this is done in the name of “fiscal responsibility,” and “not saddling the next generation with debt.”
It’s all nonsense though. If there were a word of truth in any of it, why would ratings agencies downgrade the state’s credit rating eight times after Mr. Responsibility took over? Well it turns out that even the staunchest defenders of upward wealth redistribution, such as the ratings agency Standard and Poor’s, think Mr. Christie’s hustle is little more than a smash and grab job. Stealing pensions is no way to shore up an economy.
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