Truth from Blue Jersey

The first step is admitting you have a problem

by: jmelli
Mon Jun 18, 2007 at 03:33:27 PM EDT

There is a $2.5 billion budget deficit projected for 2008, yet this year's proposed $33.5 billion budget represents about a $2.7 billion increase over last year. What is going on here?

The short answer is it's an election year gimmick. The longer answer is that a huge chunk of the increase comes from boosting property tax relief to up to 20% so that voters are placated by a check/credit that we already know we can't provide them with next year.

While it's critically important to address rising property taxes, introducing structural deficits in the state budget is not the way to do it. Governor Corzine vowed to end the practice of one-shot gimmicks to balance the budget. It's disappointing that he's letting the legislature get away with it to score cheap political points. The legislature didn't even begin to address the root problem with property taxes, and the fact that they are producing an unsustainable budget is proof.

Corzine should admit - for the sake of the state's fiscal integrity - that the political will is not there to fix the property tax problem and that it's time for him to call for a citizens' constitutional convention. It may or may not succeed at solving the problem, but we know that under the best conditions, the legislature couldn't do it.

Hat tip to jmelli, for telling the truth. It won't make you popular with the partisans, but it is the only way that the serious problems we face at all levels of government in New Jersey can be addressed and solved.