Bob Ingle is reporting that tax collections are down $459 million, 4.2 percent,from projections for the fiscal year and that just started in July.
Last month Corzine predicted a $1.2 billion current year short fall. Those numbers were too optimistic. $1.8 billion is more realistic.
Corzine can't solve this problem with layoffs because he would have to pay the laid off government workers unemployment benefits. The unemployment trust fund has already been raided by previous governors and legislatures and is going broke paying benefits to private sector workers.
Instead of talking about turning entrepreneurs loose and reviewing DEP regulations, Corzine should engage the unions in give back negotiations. A 10% across the board cut is the way out of this mess.
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10% across the board is a thought, but it'll never happen.
Public employees are the only people the guv cares about.
Guv does not care about public employees. In fact he often demonstrates a disregard for the public employee each time he "bypasses" a career service employee for a political hack appointment to drive costs up more. I hope they let the workers have a say, I would forego my increments, and any pay raises that are due if it means keeping my job. I will even turn a blind eye to the hacks earning far beyond what I have worked my way to earn while they have been given handouts
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