Ah, the smell of Democrats in Trenton. But I digress.
Lawhawk points out,
The two biggest parts of Corzine’s solution are the raid on the rainy day fund and pushing costs into next year. The rainy day fund usage is warranted, since that’s the purpose of the fund. However, pushing off the costs to next year does not address the fundamental problem with the structural deficits caused by decades of overspending. It creates incentives to continue overspending and obfuscates the nature of the state’s spending. It is a lie.
Attempting to paper over the deficit by claiming that you’re going to push it into next year’s budget doesn’t solve the deficit – it foists it onto the books for next year.
Then, there’s the whole notion of cutting pension contributions. Shortchanging the pension contributions means that the pension funds will fall short when the time comes for redemptions. Corzine’s policies make the state’s fiscal picture worse.
eliminate the property tax relief program, along with the 1% sales tax hike that went to pay for it.
eliminating COAH and Abbott school spending
WyBlog has 5 items NJ Governor Jon Corzine can cut from the state budget, starting with eliminating the ridiculous property tax rebates. Go read the rest.