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Into the
Valley of Debt...
Letter to the Editor of the
South Brunswick Post -
July 2,
2009 |
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Let
me paraphrase Tennyson.
Into the Valley of Debt rode the
taxpayers of South Brunswick.
Recently the South Brunswick Township
Council passed a $49M budget, which they
declared “difficult”, but required
deferring $1.3M in pension payments to
be repaid beginning in 2012. This is
spend now, pay later. It is the very
approach to fiscal irresponsibility that
precipitated the current recession. And
yet our council chose to employ spend
now pay later. This was not a good
choice. Hopefully we can find the money
in next year’s budget to repay in full
the amount we deferred.
That said, in looking back at last
year’s budget we should be less eager in
future budgets to use such a large
portion of the available surplus. Had
we not used so much of the surplus in
last year’s budget we probably could
have avoided having to use the pension
deferral gimmick to close this year’s
budget gap and possibly avoided so many
layoffs.
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John O'Sullivan
Monmouth Junction
Voice your opinion. Send an e-mail to
myopinion@sbgop.org and
let us know what you think. |
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Council
Should Pay Pension Tab
Letter to the Editor of the
South Brunswick Post -
May 7,
2009 |
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We
are currently stuck in a severe
recession created by corporate
executives who chose solutions that
resolved problems for the short term but
created problems in the long term.
Many companies which chose those
short-sighted solutions are now facing
bankruptcy.
Last week the [South Brunswick] Township
Council began preliminary discussions
for the new budget. They are
considering deferring $1.3 million in
pension payments to reduce the budget
amount for next year. This, like
the decisions of to many of our
corporate CEO's, is a short-term
solution that will create long term
hardships.
Deferring this $1.3 million payment this
year will incur about $90,000 per year
in interest beginning in 2012 and ending
in 2027. That's an additional
payment of $1.35 million, slightly more
than double the original payment.
This council seems to be making choices
similar to those CEOs who lead their
companies into bankruptcy. I
recommend we address the issue head on,
pay the full amount now and avoid the
consequences for the future.
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John O'Sullivan
Monmouth Junction
Voice your opinion. Send an e-mail to
myopinion@sbgop.org and let us know
what you think. |
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 What's
On Your Mind
South Brunswick?
What concerns you?
What do you want to know more about? What ideas do you
have to make life better in South Brunswick?
Let us know at
myopinion@sbgop.org
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RECENT HEADLINES... |
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May 7, 2009
Council Should Pay Pension
Tab
Letter to the Editor of the
South Brunswick Post -
May 7, 2009
We are currently stuck in a severe recession created by corporate
executives who chose solutions that resolved problems for the short term
but created problems in the long term.
Read On.. |
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March 19, 2009
Be Active In Budget Process
Letter to the Editor of the
South Brunswick Post -
March 19, 2009
March Madness has started, not the basketball games, but the budget
presentations.
Tuesday night the South Brunswick
Council started their March Madness with
the presentation of the new budget.
Read On.. |
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January
6, 2009
O'Sullivan
Announces Run For Open S.B. Council Seat
Press Release -
January 6, 2009
John
O'Sullivan, who ran for council on the
Republican ticket last year, today
announced his candidacy for the
Republican nomination for the South
Brunswick Township Council seat recently
vacated by Carol Barrett. The
election to fill the vacated council
seat is November 3rd, 2009.
Read On.. |
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December 23, 2008
Recycling Garbage
Letter to the Editor of the Home News - December 23,
2008
hat “garbage” is the Democratic controlled South Brunswick Township
Council recycling to the taxpayers? I was shocked and dismayed to
read a newspaper editorial “Council cheats taxpayers on South Brunswick
recycling deal”.
Read On.. |
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