Just the Facts

In 1995, Governor Whitman of New Jersey used money from the state pension fund to balance the budget. In the intervening years, successive administrations did not put the borrowed money back, and municipalities did not meet their fiduciary responsibilities. Fast forward 16 years, and our present governor claims that the pension system is broken, and it's due to the overly generous benefits that public employees enjoy. I'm confused. If you take money out of your bank account and you do not replace it, of course it will dwindle. Why hasn't the press asked Governor Christie to explain how the pension system became underfunded?