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View Full Version : New Jersey's budget deficit triples to $1.2B



Teetop
11-13-2008, 04:31 PM
New Jersey's state budget shortfall has tripled to a staggering $1.2 billion because of the nation's economic woes, and it could soar to $5 billion for the next fiscal year, administration officials said today.

After a dreadful October that saw tax revenue dive to $211 million less than the Corzine administration's projections, the state is bracing for more pain in the coming months.

....

The governor grimly tallied the steps the state will take to compensate: Renegotiate vendor contracts. Delay capital expenditures. Find $600 million in cuts to departments.

And that is only for this year. For the fiscal year starting in July, Corzine said: "All things are on the table."

In a speech to the Legislature last month pushing for an economic stimulus package, Corzine projected this year's shortfall at $400 million.

....

Liberalism and budgets don't mix very well. (http://www.nj.com/news/index.ssf/2008/11/new_jerseys_budget_deficit_tri.html) :rolleyes:

Milly
11-13-2008, 04:48 PM
Contrast this with Indiana'a Republican governor, Mitch Daniels.

We may have gone blue this election, but Mitch was re-elected to the governor's mansion handily. Indiana is in the black and my property taxes have been cut in half. I admit, he leased the toll road, which I hate (service has gone to hell) and he pushed through daylight saving time, but all-in-all I'll take a Republican governor any day.

Odysseus
11-13-2008, 08:01 PM
In a speech to the Legislature last month pushing for an economic stimulus package, Corzine projected this year's shortfall at $400 million.

Let me see if I get this: In a speech asking for more spending from the legislature, the governor projected a $400 million shortfall. Am I the only one who sees a connection?