CBS posts unaired clips of Obama and Romney Interviews

Romney puts the 47% tape in context

Obama admits failure, asks for another term
 

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Romney and Ryan on 60 minutes

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Chris Chrisite: The Day of Reckoning is Here

By Art Gallagher

Governor Chris Christie was featured prominently in the 60 MINUTES segment, State Budgets: Day of Reckoning last night.  See InTheLobby for a synopsis and links to the broadcast and extra footage.

There were two key phrases Christie used that caught my attention when talking about the state’s pension and retiree health care obligations. 1) Christie said that most of the general public is incredulous that there are still people still getting pensions.  Most of us have 401K’s that have been hammered and we don’t know how we are going to fund our retirements. 2) Christie said, as I have heard him say before, that while public employees are up in arms now, if he doesn’t take the necessary actions to reform the pension and benefits system, it won’t exist in 10 years.

I hope the second comment is not an indication that Christie is going to try to save the pension and benefits system.  It is beyond saving and it is not appropriate to try.

As Christie’s two least favorite conservatives (besides Sarah Palin), Paul Mulshine and Rick Merkt wrote in September, if the state pension system was a private pension system the federal government would have shut it down already.

If the federal government is not going to do the right thing regarding the insolvent state pension systems throughout the county, New Jersey and Chris Christie should lead the way.  Scrap the pension system.  Distribute the money in the system equitably to its beneficiaries’ retirement accounts and let’s move on.  Set up 401K type retirement programs for government workers and retirees.

The private sector has already handled this crisis and have given the states a model for how to do it. It’s not fair and it won’t be pretty, but it has to be done.  All we need is a leader with the courage to do it. 

I believe Chris Christie is that leader.  I hope I am right.

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