Corzine Wants More Debt
The cluelessness of New Jersey politicians is exasperating.
The first year of Governor Corzine’s term saw more debt added to the taxpayers’ back as we will still be paying for potholes filled last year in 2020, a sales tax increase, and inaction on the promised property tax reform that was the anchor of Corzine’s campaign. All the while, local communities raised local taxes. New Jersey extended its “lead” as having the highest property taxes in the land.
A couple weeks ago I blasted Corzine for his timing. The governor has not learned his lesson.
Given the fiscal peril the state of New Jersey is in, the legislature is pushing for a ballot question for citizens (not all taxpayers mind you) to okay another $230 million of debt. Truth be told, the legislature wants $500 million, but have not voted on that bill yet.
New Jersey is already the fourth most indebted state in the land, but if Democrats in Trenton have their way, we’ll move up a bit on that list. All for what?
Stem cell research.
Voter approval would boost plans by Gov. Jon S. Corzine and Democrats who control the Legislature to make New Jersey a stem cell research leader, but would also increase state debt that has nearly doubled since 2000 to $29.7 billion.Voter approval would boost plans by Gov. Jon S. Corzine and Democrats who control the Legislature to make New Jersey a stem cell research leader, but would also increase state debt that has nearly doubled since 2000 to $29.7 billion.
Yup, your elected leaders (spearheaded by Dick Codey) want to borrow hundreds of millions of dollars in order to give it away in the form of grants to companies.
I am all for spurring the economy along, but can the state afford this right now? Forget the moral questions that stem cell research raises, the taxpayers of this state cannot afford to spend money. The failed property tax reform discussed sinking yet another billion dollars into the education budget. I do not think those “in charge” understand the problem.
New Jersey cannot afford to spend any money. The debt we carry has doubled since 2000. We already owe $30 billion. This proposal adds another $20 million in mandatory expenses (not to mention what it does to the state’s credit rating) to the budget. That is completely unacceptable.
Governor Corzine, your business background is failing our state.
Also blogged on this date . . .
- Electoral College - 2008
- Welcome to Cumberland Pond - 2008
- Joe Buck Stupidity of the Day - 2007
- What $88.9 Billion Buys - 2007
- On Geocoins - 2006
- Super Bowl VII - 1973
Tags: Corzine, Dick-Codey, leadership, New Jersey
By Dan on Jan 14, 2007
Umm, yea, maybe there there was a reason he was fired from Goldman Sachs? I’m pretty sure it wasn’t because he was good at his job.
By persiflage on Jan 15, 2007
Oooooh! My head hurts just watching and listening to these well-paid but clueles “public servents”. What is so complicated here? The people of New Jersey cannot afford three quarters of a billion dollars to build state-of-the-art playpens for highly compensated “researchers”. To say nothing of the fact that there is absolutely no authority in the NJ State Constitution for the expenditure of funds to build and operate medical research facilities! I smell the corrupting influences of the medical-industrial complex and the academic-industrial complex at work. The state is facing another one to two billion dollar “shortfall” in the upcoming budget - has everyone forgotten that - despite record state revenues?
This state does not need a 4 percent budget “cap” on new expenditures - it needs an immediate 4 percent budget REDUCTION, followed by another 4 percent reduction next year, etc., until the tax burden on the taxPAYING citizens closely matches the national average.
I have yet to hear any news from the state regarding which departments, elements, offices, commissions, units, etc. will be eliminated permanently as part of the state’s effort to limit the out-of-control state expenditures.