Two months after we the people rejected Corzine’s little $450 million in new borrowing for his stem-cell initiative, he stood before the state legislature and informed that the state was in a deep financial crisis – that NJ borrowed much more than it can pay back and something must be done…
SO: if in January, he “fesses up to the obvious”, why two months earlier is he pushing to borrow another $450 million???
Very interesting read from our friends at inthelobby.net
After his successsful sneak attack on Pearl Habor, Japanese Admiral Isoroku Yamamoto is said to have lamented, “I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve.”
Fast-forward 66 years, and you have to wonder: Does Jon Corzine suspect that he may have done the same thing?
Call it what you will, but something is happening in the New Jersey electorate. It started in November, when voters who were smarter than their government rejected $450 million in new borrowing to pay for the operating costs of stem cell research centers that the state had already agreed to borrow $270 million to build.
Two months after that defeat, he stood before the state Legislature and solemnly exclaimed that New Jersey was in a deep financial crisis. The state had borrowed to the point of excess; debt service was eating up the budget, and something must be done.
So here’s a question Corzine’s never answered: If he knew that the borrowing was eating the New Jersey budget alive in 2007 – as he surely did – why in the world was he out there promoting the sale of another $450 million in bonds?
He may not have connected the dots, but the public does. Corzine is no different than other politicians when it comes to spending our money on programs he thinks we should have — even if we can’t afford it.
That point became even clearer after his administration admitted that they also plan to go out and bond for another $2.5 billion in school construction – even though the state had already wasted more than $6 billion with very few schools to show for it the first time around.
Trenton politicians – heck, all politicians – want what they want when they want it. Corzine wanted to be a player in stem cell research. He wants to build new schools. The state doesn’t have any money, but why let that stand in the way of his legacy?
He won’t make that mistake again. That’s why he says the school construction doesn’t need to go to the voters. And why he won’t put his massive $38 billion toll hike scheme before the voters.
He can’t trust us not to say no.
And he was probably stunned that they knew all about his inconsistencies: agreeing to raises for judges, despite the state being broke; shouting down his attempts to say that any cuts in the budget would result in hospitals closing; and generally demanding that the government cut itself, before he asks them for any more money.
As if turning an 800 percent toll hike into a 600 or 660 percent toll hike somehow makes it fair or acceptable.
Want proof? Check out this map developed for the Asbury Park Press by City University finance professor Jonathan Peters. It shows where the highest concentration of E-ZPass users live in New Jersey.
It’s the same reason he’s putting off the toll hikes until the year after he and the state Legislature stand for re-election.
But Corzine couldn’t be that cynical, could he?
They love their state, but they either can’t afford to live here, or are afraid they won’t be able to in a few years.
The people of New Jersey recognize that the politicians who are running their state government don’t understand that the status quo no longer works. That government spending is not the answer to their problem; it is the source of their problem. That government’s efforts to protect the bureaucracy are harming their families.
They know that families in New Jersey are forced to make hard choices every day in order to make ends meet, and government should have to make those same hard choices – before they go to the people and ask them for more.
Corzine’s already doing it – his new school funding formula expands government by mandating preschool education for low-income students, without identifying how he’s going to pay for it.
In 1941, it was bombs over Pearl Harbor that awakened the anger of America. In 2008 New Jersey, it may well be pigs flying over the Statehouse.
Either way, New Jersey is awake. Let’s see how many politicians in Trenton start paying attention.