Economic and Fiscal Failures: Christie & Corbett by the Numbers

I like when advocacy pieces come to us sourced and linked, like this from an email that came to us via DNC. Much of Gov. Christie’s time spent galavanting around the country trying to rehabilitate his scandal-plagued street cred has ironically been a tour of states doing better than New Jersey is. But today, Christie is in Pennsylvania, where Gov. Tom Corbett’s economic policies have left his state hurting, just like Christie’s have. You’d think with 5 embarrassing credit downgrades in his record, Corbett would avoid even getting photographed with Christie, who has a record 8. But Corbett’s desperate and tanking in the polls – down 17 points against Dem challenger Tom Wolf – so I guess his handlers told him the Christie road show was worth bringing to town even if it upstages him. After all, these days Christie’s RGA seems to be the only thing propping up Corbett’s campaign; RGA’s actually Corbett’s biggest donor. Way to light up the grassroots there, Tom.

Tonight, Hillary Clinton’s in the Philly area, too, headlining a Women for Wolf funder. Both Clinton and Christie will need southeast PA voters come November 2016, if either of them gets that far. We’ll see in less than a month which one can claim their PAGov visiting star power helped swing an election.

Meanwhile, here’s DNC’s take on why it shouldn’t be Christie:

Job Growth

47th – Since Corbett took office in January 2011, Pennsylvania has ranked 47th in job creation. [Keystone Research Center, 10/7/14]

42nd – In that same time period, New Jersey ranked 42nd in job creation. [Keystone Research Center, 10/7/14]

Huge Corporate Tax Breaks

$3.9 billion – In Pennsylvania, Corbett gives away over $3.9 billion a year in corporate tax breaks. [Washington Post 01/30/14]

$4 billion – Under Christie, New Jersey has given away over $4 billion in corporate tax breaks and grants. [Bloomberg, 6/11/14]

Below, their massive shortfalls, downgrades & regional worsts.  

Massive Shortfalls

Over $1.4 billion – Under Corbett, Pennsylvania faced a potential two-year budget shortfall of over $1.4 billion. [Patriot News, 6/16/14]

$1.5 billion – Thanks to Christie’s overly rosy revenue projections, New Jersey faced a $1.5 billion budget shortfall last fiscal year. [Star-Ledger, 9/10/14]

Credit Downgrades

5 – Under Corbett, Pennsylvania’s credit rating has been downgraded five times by major credit agencies. [Associated Press, 9/26/14]

8 – Under Christie, New Jersey’s credit rating has been downgraded a record-setting eight times by the major credit agencies, hurting New Jersey’s ability to borrow and invest in critical projects. [Star-Ledger, 9/10/14]

‘Worsts’ in the Region

Slowest pace of job growth – Under Corbett, Pennsylvania has the slowest pace of job growth among neighboring states. [Keystone Research Center, 10/7/14]

Highest unemployment – As of August 2014, New Jersey’s unemployment rate was half a percent higher than the nation’s and was tied for the highest in the region. [Washington Post, 9/5/14; Bureau of Labor Statistics, Accessed on 10/3/14]

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