New Jersey’s ongoing fiscal crisis demands that a special legislative session be convened by Governor Jon Corzine said Assemblywoman Dawn Marie Addiego and Assemblyman Scott Rudder, both R-Burlington.
“Less than one month after passing a budget based on one-shot gimmicks and deferring payments, an independent state agency is estimating next year’s deficit will reach $10 billion,” said Assemblywoman Addiego. “Governor Corzine needs to face the reality that his financial shell game has been uncovered, and that taxpayers want to know how he is going to deal with the record shortfall.”
In a letter released today, the non-partisan Office of Legislative Services estimates there will be an $8 billion deficit in the 2011 budget and at least a $2 billion shortfall in the unemployment compensation fund.
Addiego and Rudder said they fully support an earlier call by Republican Leaders Tom Kean and Alex DeCroce that the projected $10 billion deficit for fiscal year 2011 by the Office of Legislative Services must be addressed immediately.
“We knew, at the time we were voting on the 2010 budget, that there would be a shortfall of billions of dollars for 2011. We knew that Governor’s approach to balancing the budget was nothing but ‘smoke and mirrors, ‘ and the OLS memo confirms that,” said Assemblyman Rudder. “Once again, the Governor has failed the taxpayers of New Jersey.”
“New Jersey is facing the worst financial crisis in history. The Governor has led the state to the brink of bankruptcy,” said Assemblyman Rudder. “Hoping for an economic miracle by the time next year’s budget must be balanced is not only foolish, but indicates a lack of leadership. The time to act is now,” said Rudder.
Assemblywoman Addiego said that for too long the Corzine administration has relied on sacrifices by middle class taxpayers and the business community to sustain Trenton’s out-of-control spending.
“It is time for government to lead by example and reduce its appetite for spending,” said Assemblywoman Addiego. “Taxpayers are tapped out. Governor Corzine has to stop reaching for their wallets and control his urge to write checks that New Jersey can’t cash.”
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February 21, 2012
