Friday, January 11, 2008

CAN YOU USE ANY MONEY TODAY?

“If there is a better plan . . . put it on the table.”

So challenged New Jersey Governor Jon Corzine in his State of the State address on Tuesday.

Instead of following the annual custom of balancing the budget by nickel and diming NJ residents and businesses with a variety of tax and fee increases, Corzine has chosen put all his increases in one place by raising the tolls on the NJ Turnpike, the Garden State Parkway and the Atlantic City Expressway by about 800% over the next 14 years!

Well I certainly have a better plan – cut spending!
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Corzine’s reply to this was “Pigs will fly over the Statehouse before there is a realistic level of … spending cuts that can fix this mess.” He estimated that to achieve his goal with spending cuts would mean cutting $5 Billion, or 15%, of the state budget.

So what – so cut! You don’t mean to tell me that the NJ budget does not contain at least 20% in pork! What about all the politicians with two and three paying jobs that are getting double and triple health and pension benefits? What about the fact that while 99% of employees in the private sector are paying at least a portion of their own health insurance premiums through payroll deduction, NJ state and local employees continue to get excellent coverage 100% free of charge?

As I have said in my blogs time and time again – the typical response of the politician to budget gaps nowadays, on all government levels, is to raise taxes and fees and never to cut expenses.

Corzine has proven to be a great disappointment. Many of us in New Jersey were pleased that an “outsider” - someone from the private financial industry - was elected to such a high office. His inaugural address was full of promises of fiscal responsibility and getting rid of the corruption that has existed for decades throughout New Jersey government. But he has done none of what he promised. Any reforms that have managed to pass during his tenure have been so watered down so as to accomplish nothing of any consequence.

The increased homestead rebate checks were a joke. Corzine paid for them with an increase in the sales tax – so “Uncle Jon” took money out of your right pocket so he could put it in your left pocket! Real estate taxes continue to rise in NJ.

As I have said before, as soon as my parents go on to their final audit I am moving to Pennsylvania!

TTYL

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