promoted by Rosi
This op-ed by NJPP president Gordon MacInnes appeared in the August 9, 2012 edition of the Record. We thought Blue Jerseyans might enjoy.
New Jersey is hurting. It’s hurting so bad that the only way the governor could pay for his proposed tax cut is to borrow the money from our kids and grandkids. Float a bond for $260 million to pay for the $200 million or so tax cut proposed for this budget year. Benefits to future taxpayers? Zero. No matter, we can all enjoy a night out with the reduced taxes and let our kids pay. Given the amount we’ll get back, most of us can reserve a spot at the nearest White Castle.
This is not the condition one would expect of the “Comeback” state. But it gets even worse.
The United States has suffered a cut in its prime credit rating because Congress wouldn’t provide timely funds to repay the nation’s debt.
To add to our growing burdens, the House of Representatives has passed a plan that is supposed to balance the federal budget without increasing revenues. It’s called the Ryan Plan for its Wisconsin sponsor, Paul Ryan.