The Assembly budget committee approved Governor Corzine's $812 million in "spending cuts" and voted to allow municipalities to defer $541 million in payments due the pension system, according to a Bloomberg report in the Asbury Park Press.
A similar measure failed to pass the legislature in December. Let's hope it fails in the Senate again this time.
Corzine's proposal to defer pension payments is the exact method of the Whitman and McGreevey administrations that lead to the fiscal mess that New Jersey is in.
This recession is an opportunity for the government, as well as businesses and families to correct themselves. To eliminate wasteful spending and to create new efficiencies.
The size of New Jersey's government was more than doubled in the last eight years. The way out of this mess is to scale back, drastically.
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