Proposal simply creates greater debt

The plan to defer payments into employees' pension systems on the local and county level and in the school system is currently in the state Senate budget committee. Proposed by Gov. Jon Corzine as a way to help avoid property-tax increases, it is a plan that will bring future headaches larger than those we now face. The last time this deferral plan was used for a similar reason, it only brought headaches when it came time to pay back the deferred deposits.

The plan is wrong for a number of reasons, foremost among them is that the employees whose pensions are affected didn't contract for employment under these conditions. As they work, payments were to be made into a pension plan. To defer the payments based upon future better times is wrong. They worked, they should have the money set aside now. Secondly, the best budget is a payas you-go plan. If you can't pay as you go, then some of the expenditures should be cut — current obligations for money due should not be put off. When the day comes to pay it back, it only causes more problems.

East Brunswick is experiencing the result of the last deferredpension payment plan. The sale of the Golden Triangle was done, in part, to gap budget shortfalls caused by an earlier enacted pension payment-deferral plan whose repayment schedule was mandated, and to avoid tax increases that were caused by the demand for payback. Now that the Golden Triangle deal is in jeopardy, the entire plan to pay back and avoid tax increases is in jeopardy, although the township is poising itself to avoid severe financial repercussions via bond issuances.

The plan the governor proposes is fiscally imprudent and should not be approved. It's time for the taxpayers to let our lawmakers know that we will not stand for shady practices that only shift the debt burden to a later date at a higher cost. Don't spend it if you can't pay for it in a timely manner.

Camille Ferraro

East Brunswick