I have a lot of experience talking to Congressional staffers, regulators, rating agency analysts, municipal bond traders and portfolio managers. When you pump these parties for information there is always a clear line about the type and amount of information they will share.
But I had a bad encounter with the press spokesperson for New Jersey Governor Chris Christie’s treasury department. When I questioned the department’s methodology for their claim that reform in 2011 had reduced over $100 billion in future state pension liabilities, the treasury spokesman told me I need to go to college to understand pension fund projections. I wrote in 2011:
The accomplishment that seemed to be propel Christie to national prominence was his pension reform efforts. He has over-inflated his accomplishments on the issue. For example, he claims he made only one of three payments in seventeen years into the state’s public pension funds. If this were true the funds would have collapsed.
Now Christie is back with a new story about the pension system in New Jersey and how it needs to be repaired again because the first fix was not enough. This from John Reitmeyer of The Record:
Christie has regaled audiences across the country with stories of how he teamed up with Democrats and pulled New Jersey’s debt-plagued pension system back from the brink of insolvency. His victory lap after a 2011 bill-signing on pension reforms took him to California for a speech before Nancy Reagan and to the libertarian Cato Institute in Washington, D.C.