Wednesday, July 2nd, 2008
It was just days ago that Gov. Corzine heralded the passage of a bloated state budget as unprecedented, fiscally responsible.
This budget takes us through a turning point and confirms our commitment to a common sense principle of finance, often ignored, that we should spend no more than we take in.
Of course this fiscally responsible state budget did not address school construction nor did it address infrastructure. The fiscally responsible state budget has nothing about the $3.9 billion Corzine is urging the legislature to commandeer from taxpayers.
Gov. Jon Corzine yesterday pressed the Legislature to revive New Jersey’s school construction program to the tune of another $3.9 billion.
No, that isn’t in the fiscally responsible state budget. Nor is the the threat Corzine issued taxpayers this morning on Good Day Philadelphia about funding infrastructure:
I’m not anxious to move forward with a gas tax. I really think we’ve got to find another way.
First of all Gov. Wall Street, the word to use is eager not anxious. Besides that, threatening to raise gasoline taxes if you do not get your toll increases just may be the issue that sinks your re-election. New Jersey voters are ultra-liberal, but they already know they are being gouged and aren’t going to accept much more.
They refused you on both issues previously. (Remember dear reader, Corzine’s first act as governor was to indebt us for 30 years to fund the Transportation Trust Fund for five years. Time is beginning to run out on that (of course, after the gubernatorial election) and he needs to find another shot of money to keep things going.) Now you’re pitting one tax against the other expecting the taxpayers to pick the lesser of two evils.
What was responsible about this monstrous budget you just signed? Bridges, roads, and school construction cannot continue to be funded outside the budget.
Posted in New Jersey, Photography | No Comments »
Tuesday, May 20th, 2008
There is a new coastal trail being proposed to snake through Cape May, Cumberland, and Salem counties here in southern New Jersey.
The Bayshore Heritage Byway is a route through unique natural and historically significant landscapes along southern New Jersey’s “western shore.” The proposed Byway through Salem, Cumberland and Cape May Counties offers travelers a multitude of destinations to explore the Bayshore’s natural, historic and cultural assets.
Offering views of the Delaware River and Bay, marshlands, wildlife, farm fields, historic architecture and evidence of past and present industries inextricably tied to land and water, the Bayshore Heritage Byway is seeking nomination for designation as a New Jersey Scenic Byway through the New Jersey Department of Transportation (NJDOT). Funding for this project was provided through the Federal Highway Administration’s National Scenic Byways Discretionary Grant Program.
This sounds wonderful. I am definitely among the target audience of such a trail. I favor it . . . in theory.
I would love for this project to succeed. The problem is that New Jersey cannot afford the project.
Notice who the participants include:
Delaware River Bay Authority
Policy and Planning
NJ Department of Agriculture
Division of Agriculture and Natural Resources
NJ Department of Agriculture
Development Committee / Farmland Preservation Program
New Jersey Department of Environmental Protection (NJDEP), Green Acres Program
Planning & Information Management
NJDEP
Division of Fish & Wildlife
NJ State Park Service
Southern Region Office
U.S. Fish and Wildlife Service/
Cape May National Wildlife Refuge
NJDEP
NJ State Historic Preservation Office
NJ Department of State
Division of Travel and Tourism
Parvin State Park
NJ Park Service
Pinelands Commission
SJTPO
South Jersey Transportation Planning Organization
All taxpayer-funded agencies. There are more on the list. The big one who is spearheading the project is the New Jersey Department of Transportation.
Recall dear reader, that the DOT is broke. So broke that Governor Corzine indebted us for 30 years to fund it for five years. Those five years are coming to an end and Corzine has other ideas to fund it like raising the tolls on New Jerseys highways significantly. Recall that most New Jerseyans are not in favor of that plan.
The alternative is not to add to the spending of the DOT. Rather, it is to cut costs. The Bayshore Heritage Byway is a cost that needs to be cut. New Jersey taxpayers cannot afford such a project.
Would it be wonderful? Indeed. But severe financial issues need serious attention. We need to say No to new spending. This is new spending. Say No, no matter how much you want it.
Posted in New Jersey, Politics | No Comments »
Friday, February 15th, 2008
Governor Corzine is not playing fairly with New Jersey taxpayers. He stated that unless New Jersey raises more revenue, property taxes and college tuition will rise and hospitals will close.
“Cutting has to be a part of it, but it is not the total solution,” Corzine said. “And people who think that, I think, really are unrealistically suggesting that we cut municipal aid or school aid, which means higher property taxes. Or cut higher educational aid, which means higher tuitions. Or close more hospitals in the state of New Jersey because we don’t have the resources to go forward helping our hospitals with charity care.”
This is all to garner support for Corzine’s ill-conceived plan of selling off the state’s highways to pay for his programs today.
Governor Corzine obviously does not believe the number of workers the state of New Jersey is significant. Nor is Corzine scrapping the inefficient property tax rebate program. How about vetoing this bill?
I do not believe for a second that the sky is falling. I would be more likely to accept Corzine’s scare tactics if he cut any spending. He hasn’t, of course. And he won’t.
Roberto nailed this two years ago:
A tough choice would be laying off state workers. A tough choice would be going to your ex-girlfriend who happens to be the head of the largest state workers union and telling her that she has to go to her union members and get them to pay more for their healthcare and benefits. A tough choice would be to restructure state aid to school districts so that the bulk of it doesn\’t go to the Abbott districts.
Raising taxes is the easy choice. And that’s what we’ll get. McGreevey already socked the business community with back-to-back $1 billion tax increases so how can Corzine do it again, especially if he is promising to help businesses. That pretty much leaves sales taxes and income taxes. Look for an increase in the sales tax to at least 7%. And if you remember McGreevey passed a millionaire’s tax in 2004 which defined a millionaire as someone making $500,000 a year. Look for Corzine to define a millionaire as anyone making over $200,000.
The projected budget does include restoring the property tax rebates to pre-Richard Codey levels. It does not include Mr. Corzine’s expanded rebate plan. Or bailing out the Transportation Trust Fund. Or costs of keeping the School Construction Corporation funded. Or funding Mr. Corzine’s campaign promises of universal health care, universal pre-school, universal college education, universal stem cell research, etc.
The plain truth is that Corzine took the easy route every time. He indebted us for 30 years to fund the Transportation Trust Fund for a short period of time. The property tax rebate plan was expanded due to an increase in the sales tax. The Schools Construction Corproation is out of money and begging for more cash. Stem cell research was voted down by the voters, yet Corzine pushed through funding.
Where has Governor Corzine cut spending?
Posted in New Jersey, Politics | 1 Comment »
Sunday, January 20th, 2008
Posted in New Jersey, Politics | 2 Comments »
Tuesday, July 10th, 2007
Governor Corzine’s latest scheme for the taxpayers of New Jersey involves a shell game.
After much criticism when he floated that he wanted to sell and/or lease state assets such as the Turnpike and the Garden State Parkway, he is back with another idea. Corzine wants to leverage those assets to borrow billions of dollars.
Corzine wants to use state assets to raise cash in order to pay mounting state debt and free money for unmet needs.
. . .
he prefers creating a nonprofit corporation that legislators have said would issue bonds to bring a quick upfront payment. The bonds would be paid back from future toll revenue boosted by toll increases.
The state has debt. Debt arises from borrowing money, such as when Governor Corzine borrowed $1.8 billion to pay to patch potholes last year. While the state received that money last year and patched the roads, New Jersey taxpayers will pay far more than that amount over the next 30 years to pay back that loan.
Of course, there is plenty of other debt New Jersey has incurred over the years. Meeting the interest demands on this money is a liability. This is why generally it is best to pay the bills as one incurs them rather than borrow against future “earnings”. There are things which make sense to borrow for (a new highway system, perhaps), but to borrow to pay the interest on previous borrowing is ludicrous. This is what chronic gamblers do; bet money they do not have to pay off the money owed. It is a very risky game to play. And when it is someone else’s money (as in the case of the taxpayers), it is foolhardy.
New Jersey is having a difficult time making the interest payments for money already borrowed. It wants to borrow more money using our state assets to pay off that debt. One might say that it is a unique situation and if it cleared the debt, perhaps it is worth doing once. I may even agree.
Unfortunately, the problem does not go away. Governor Corzine has no desire to scale back spending in the state. Not only has the budget increased again this year, he is proposing even more borrowing.
Voters may also be asked this November to support borrowing $450 million to provide stem cell research grants in New Jersey for 10 years. The Legislature approved the plan last month, and Corzine is expected to sign it.
Not one more cent should be borrowed. Not a penny. New Jersey has redefined bad government. Until budgets decrease (not rates, but actual dollars) and taxes are removed, I will not support shell games like this.
Governor, it is time for those tough choices you spoke of a year ago. Cut spending. Absent that, there is no leadership.
Posted in New Jersey, Politics | No Comments »
