For Immediate Release
June 15, 2011
Contact: Kevin Smith
Phone: (603) 571-4710
Pension liability continues to balloon after veto of SB3
CONCORD, NH – Despite having one of the worst unfunded pension liabilities in the country at $8 billion dollars, today, Governor John Lynch vetoed SB3, which would have made reforms to the state’s pension system and prevented it from going down a path to insolvency. Of course the Governor, rather than give deference to the union bosses which he is defending, came up with a cockamamie excuse of wanting to consider the reform as part of the on-going budget process in his veto-message.
Commenting on the Governor’s veto of SB3 was Cornerstone Executive Director, Kevin Smith:
“John Lynch’s true colors are finally showing now that a conservative majority is in charge at the Statehouse. Instead of doing the responsible thing by signing this pension reform bill into law, the Governor is kowtowing to the union bosses while throwing the New Hampshire taxpayer to the curb. Most laughable though has to be the Governor’s reasoning for vetoing the reform bill because he wants to consider the legislation as part of the budget. Hasn’t John Lynch figured out after seven years that policies are not written as part of the budget? This is typical John Lynch: wanting to have his cake and eat it too.”
Cornerstone-Action is the legislative and issue advocacy arm of Cornerstone Policy Research.
Cornerstone Policy Research is a non-partisan, non-profit education and research organization dedicated to the preservation of strong families, limited government and free markets.