Acting State Treasurer Admits Unanticipated Declines in Revenue Collections
Senate Republican Leader Thomas Kean called again today on Governor Corzine to impose deeper budget cuts and to impound unspent revenues.
“My colleagues and I have been warning the Corzine Administration that their budget assumptions were unsustainable for at least six months. We asked the administration in the fall to follow the lead of the City and the State of New York by freezing spending and cutting unnecessary programs. We were ignored.
“Yesterday, in published reports, Acting Treasurer Rousseau admitted that the administration did not anticipate the impact the faltering economy would have on state revenue collections. In light of statements made by the governor and the acting treasure I again call on the Corzine Administration to freeze spending and to lapse unspent revenues into the Fiscal Year 2009 budget.
“We don’t know how severe an impact the current budget slowdown will have on the state budget. However, prudence demands that we plan for the worst-case scenario. It would be reckless and a disservice to the taxpayers of New Jersey if we failed to prepare for an economic storm.”
Link to Post:
http://www.senatenj.com/index.php/tomkean/kean-renews-call-for-extensive-budget-cuts/302
Similar Posts:
- Kean: Governor Should Freeze Spending If Revenues Are Falling
May 2, 2008 - Kean: Expanding Budget Deficit Shows Need for Freeze
April 18, 2008 - Kean: Governor Should Consider Spending Freeze If State Is In Recession
March 13, 2008 - Bucco Statement on Acting Treasurer Rousseau’s Testimony
March 26, 2008 - Kean: Prepare for Tough FY 2009 Budget Now
October 11, 2007
