Breakdown in Leadership Will Mean Lost Jobs and Services
Senate Republican Budget Officer Anthony R. Bucco (R-Morris) expressed disbelief that Governor Corzine is either unable or unwilling to provide details of his plans for dealing with an unprecedented $500 million deficit that must be closed in less than eight weeks. The nonpartisan Office of Legislative Services said this week that absent action by the Governor, the State is on track for a $500 million deficit — the first year-end deficit in the State’s long history.
“I don’t know if the governor is paralyzed by indecision or playing a foolhardy game of brinkmanship with the public and lawmakers,” Bucco said. “According to his published statements, the governor has no intention of talking to the public about his plans to deal with the budget crisis until mid-June, just two weeks before a new budget plan takes effect. That is not the way the leader of a democratic government should be behaving toward a public that more than anything else, needs reassurance and candor from its leadership during crisis.”
Bucco noted that a $1.8 billion debt payment comes due in June. By law, the state has no option but to pay this debt. The Treasurer has yet to say how he will when the state has far less than $1 billion in reserve. Corzine told Millenium News, “We have to look at what the June 15th (tax collection) numbers will look like, and we have to plan for the balance of the year.”
“Payments on the $1.8 billion debt come due just 10 days after the revenue numbers will be released,” Bucco said. “It’s inexcusable for the governor not to go before the people now and say what the options remain for getting the budget into balance. The Governor is fiddling as the state’s finances burn. Every day he delays diminishes the options available.”
Governor Corzine repeatedly rejected calls by Republicans over the last two years to build up a surplus that would cushion the state from an economic downturn. They called on responsible reductions in spending on mismanaged Special Municipal Aid, unneeded patronage employees and dozens of other bloated programs to build the surplus. Because the governor ignored those pleas, he is now proposing a billion dollar increase in taxes and fees, and cuts in services that will boost local property taxes.
Link to Post:
http://www.senatenj.com/index.php/bucco/bucco-stunned-by-corzines-silence-on-deficit/3041
Similar Posts:
- Bucco and Oroho: Governor Corzine Still Playing ‘Hide the Numbers’ Game
October 9, 2009 - Bucco Again Urges Corzine Not to Let Fiscal Crisis Fester for Months
July 9, 2009 - Bucco: Corzine’s Legacy Will Be Worst Fiscal Crisis in New Jersey History
June 12, 2009 - Tom Kean and DeCroce: Corzine Should Call Special Session to Address $10,000,000,000 Crisis
July 21, 2009 - Oroho Asks Why Governor Corzine Hasn’t Called an Emergency Session
May 6, 2009
