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And it likely is. IIRC, the budget proposal included $1 billion in federal stimulus money. Without the stimulus, the state would still have about $700 million in deficit.
I'm not necessarily pointing out that what is or isn't being done in NJ is bad, in fact, I like what I see unless... if that involves laying off people the proposal will be self-defeating in the future, but I guess politicians only care about elections.
Being able to function, make smart cuts but without hurting the people (throwing them out of their jobs) is always welcome. Can NJ do that? We shall see. Not even successful corporations have shown that kind of thinking ability to me, and to see politicians claim that, well...
The deficit will likely grow. With the record number of folks unemployed along with the foreclosures, Christie will have no choice but to continue to borrow from the Federal Government. NJ is years away from any balance or a surplus budget. The article is wishful thinking on the part of the author, not even the Governors office has made the claim of a surplus.
You have valid points, but you're undermining the actual accomplishment. New Jersey went from an $11 Billion deficit to a $300 million surplus. While mathematically $1 Billion changes the surplus to a deficit, it does not erase the other ~$9 Billion cuts/savings that the NJ government put in place. For a state with a history of bad political/fiscal decisions, this is a huge accomplishment. And it was done under Republican leadership.
It was done with a bipartisan approval. See, if we stopped playing partisan politics, difficult things can be accomplished.
And I credited the work, but with caution. As I mentioned couple of posts ago, not even successful corporations have demonstrated similar achievements without short sighted fixes, driven by short term gains. My own employer is a prime example of that. Do you think politicians can do better? Trust me, many of us in the middle management seem to have a better grasp at cutting costs within the company than the upper management but it remains an exercise in futility. The result is the wonderful customer service people get to experience... 45-50 minute wait over the phone, and then a voice with an artificially tailored accent showing up, only to tell you that you will have to speak to a different department, followed by another 45 minute wait. Trust me, I actually use the services from my company and know how it goes.
Most politicians have a habit of thinking elections. Are they different? And another point I made earlier was that without the federal stimulus taken into account, the budget would have shown a deficit. If it had, would you have created this thread?
Quote:
Originally Posted by blackandproud
The deficit will likely grow. With the record number of folks unemployed along with the foreclosures, Christie will have no choice but to continue to borrow from the Federal Government. NJ is years away from any balance or a surplus budget. The article is wishful thinking on the part of the author, not even the Governors office has made the claim of a surplus.
Yep. And that is exactly what I was alluding to with short sightedness that I fear, something designed not for the long term but for upcoming elections. See Texas as another example of the same. Rick Perry is claiming that the state has a balanced budget, which the state does not. He has conveniently considered rainy day reserve (from taxes on production of oil and natural gas) as the magical revenue for the current year. Texas is looking at a $11 billion deficit next year, at the current spending rate and incoming revenues. May be someone should ask Rick Perry about that on a televised interview before the election.
Last edited by EinsteinsGhost; 08-18-2010 at 11:16 AM..
The deficit will likely grow. With the record number of folks unemployed along with the foreclosures, Christie will have no choice but to continue to borrow from the Federal Government. NJ is years away from any balance or a surplus budget. The article is wishful thinking on the part of the author, not even the Governors office has made the claim of a surplus.
You may want to rethink that. The Governor recommends a budget, and the legislature signs on (or not). In NJ, the Governor got what he wanted. I think that's a pretty profound way of saying that a budget surplus is in the works.
For more details on this huge accomplishment (It's a good read):
Listening to Christi at the governors conference he basically said that they have a long way to go until they are in shape near what many balanced budget states are in.As he along with mnay governors sadi its really about having s satble stae budget that makes for a stble area that business can grown in and that can attract more newer industries.i also am a fan but the stae has a longand poainful path ahead that has to go beyond his govenorship has even he said.
You may want to rethink that. The Governor recommends a budget, and the legislature signs on (or not). In NJ, the Governor got what he wanted. I think that's a pretty profound way of saying that a budget surplus is in the works.
For more details on this huge accomplishment (It's a good read):
That was Christies statement during his campain promise, but since the budget was voted on, he has NOT claimed victory of a Surplus which is very smart on his part, this is something that the author of that article should have picked up on.
When the fiscal year closes, unemployment and foreclosure numbers go down and the state STOP borrowing from the Federal government, I'll jump on the Christie bandwagon. But due to the increase in the previously two mentioned items as well as the 10-15% increase in property taxes, not even the true Christie supporters can be that sure and optimistic.
Listening to Christi at the governors conference he basically said that they have a long way to go until they are in shape near what many balanced budget states are in.As he along with mnay governors sadi its really about having s satble stae budget that makes for a stble area that business can grown in and that can attract more newer industries.i also am a fan but the stae has a longand poainful path ahead that has to go beyond his govenorship has even he said.
Tex, I typically don't agree with you especially since half the time I don't understand what your typing. But I believe we are saying the same thing. Christie has not claimed victory of a surplus or a true balanced budget, but a budget none the less. Folks outside of NJ should really listen and not to take the partisan view.
I voted for Christie and I rarely vote Republican. It's misleading to say that taxes were not raised. As the homestead rebate was eliminated this year
we are de facto experiencing a tax raise of more than 25% in our household.
Now Corzine most likely would have eliminated the rebates, nonetheless,property taxes increased without the rebates.
I voted for Christie and I rarely vote Republican. It's misleading to say that taxes were not raised. As the homestead rebate was eliminated this year
we are de facto experiencing a tax raise of more than 25% in our household.
Now Corzine most likely would have eliminated the rebates, nonetheless,property taxes increased without the rebates.
exactly...Now you would have those that would blame the towns for those property tax increases, but that is being nieve to believe that these towns a fully responsible for hitting the middleclass where it hurts.
Christie is doing a bang up job in New Jersey, I can't debate that. But I refuse to praise McConnell. He's made a whole bunch of wing nut decisions, and if you read this, it says he used ARRA money to help close the budget so he couldn't have done it without "tax and spend" Obama. Yeah McConnell is not a role model for anyone.
I voted for Christie and I rarely vote Republican. It's misleading to say that taxes were not raised. As the homestead rebate was eliminated this year
we are de facto experiencing a tax raise of more than 25% in our household.
Now Corzine most likely would have eliminated the rebates, nonetheless,property taxes increased without the rebates.
Not to take this offtopic, but do you also then agree that the expiring Bush tax cuts are indeed a de facto tax increase?
Congratulations on voting for Christie. I hope that he will be a leader for governors of other ailing states to emulate. I would not have a problem with a tax increase if I knew that everything in the state government's power was being enacted to rid itself of waste and abuse. I really think Christie is on the right track for his state, but difficult decisions will have to be made and sacrifices will need to be shared if your state hopes to dig itself out of insolvency.
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