With respect to entitlement and pension reform, timidity and kicking the can down the road at the federal level has given way to a lot of action at the state level. And in contrast to what we saw in Wisconsin, where the battle lines were drawn along party lines, deep blue states like New York and New Jersey were able to get state employee pension reforms accomplished in a bipartisan manner.
James Freeman of the Wall Street Journal sits down stands up with Steve Sweeney, Democrat, and President of the New Jersey Senate. (video approx. 10 minutes long)
I'm a labor guy: I saw a serious problem with the pensions and health care system we had in the state and it wasn't sustainable.
We did the right thing for everyone involved. They might be mad today... but I know what I did was right.
We took private sector pension management structure and put it into the public sector pension structure.
And yet here in California, public employee pension reform is nowhere close to being on the radar.
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