Thursday, May 26, 2005

Does Anyone in Trenton get it?

Just a month or so after trying to make NJ taxpayers the unwitting margin investors in the newest Venture Capital firm for stem cell researching bio-tech companies (The State of New Jersey) to the tune of $150,000,000 of borrowed funds. Governor/Seneate President Codey has now decided that he wants to spend an additional $75,000,000 Link of bonded money backed by the Cigarette Tax, the same Cigarette Tax backing the $150,000,000 stem cell money. This can be accomplished beacause "the bonds were were authorized last year as part of Gov. James E. McGreevey's plan to balance the state budget. Because the state did not borrow as much as it was allowed under last year's plan, it can float more bonds this year."

I suspect that I'm wrong about this, but didn't the Sate Supreme Court rule that the bonding used to balance the budget last year was unlawful. They allowed it to continue because of the timing, but should we be allowed to compound the problem.

Now I like Sate Parks as much as anyone. I think Spruce Run looks a litlle shabby and I'm sure others can point out parks that need capital improvements. I want, however, to see the Philosopher/King Codey propose a $225,000,000 corresponding spending cut to balance this out. Would that be asking to much?

1 Comments:

At 2:28 PM, Blogger Enlighten-NewJersey said...

Our representatives in Trenton "get it", people in New Jersey don’t pay any attention. This lack of attention allows the politicians to do as they please.

Great post.

 

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