N.J.'s debt burden tops $38B

northjersey.com ^ | November 17, 2007 | JOHN REITMEYER

[Coleus]

 How N.J. got $30B in the hole?

[2banana]

"It is the ever-increasing debt burden that is sucking the life out of the state's finances and our ability to serve our citizens," Corzine said.

The debt? State employee pensions and benefits...

[goldstategop]

No major cuts in government spending. After all, the New Jersey Democrats' constituency is every one who either works for the state and local governments or someone who receives a benefit from it.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[goldstategop]

Jon is not going to cut his party's throat by taking on its benefactors.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[Clintonfatigued]

What a mess. Corzine may become the next Jim Florio.

[BGHater]

Not a problem. Running a debt now is good.

[goldstategop]

In your dreams. The NJ Dems are as corrupt as can be and voters still re-elect them. There are no true conservatives in the Garden State.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[Dilbert San Diego]

Don’t Democrats generally prefer higher taxes, because of the need to provide ever increasing government services???????

[BGHater]

The nexus now is:
Dems=Tax and spend
Repubs=Deficit and spend

[Moonman62]

People are already leaving NJ because of the high taxes.

[goldstategop]

There's not a dime's worth of difference between the two parties when it comes to gorging themselves at the public trough, as the recent earmark veto override illustrated.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[doc1019]

And yet they keep raising taxes. Can’t theses idiots understand basic economics? Lowering taxes will increase investment and industry in NJ and thus the tax base. But I preach to the choir here, sorry.

The state is (or was) full of conservatives and most are leaving. When the constitution can be ignored on a whim their vote can be ignored, as it has been in recent history.

Just seems that everyone (politicians) wants to make their millions and retire … the welfare of the inhabitants of NJ (and its future) be damned.

[goldstategop]

People are just leaving New Jersey. The state fleeces people who leave too but people put with the shakedown payment than remain in a state that has high living costs to begin with. Only a fool would live in New Jersey today.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[FreedomPoster]

Meanwhile, those idiots are doing business-friendly things like this:

N.J. may penalize utilities that pollute (greenhouse gas taxes)
http://www.freerepublic.com/focus/f-news/1929366/posts

[Williams]

Yes people are leaving, but the dems are more than happy to chase away republicans and replace them with yellow dog democrats. Down here in the trenches (local level) these guys care nothing about the public good. It’s all a game so they can retain power and give themselves and their friends public employment. In my town, the real dem power is the town attorney who runs the machine to keep himself, his family and his cronies on the public dole. When you talk about what is good for the community they sneer at you.

[Combat_Liberalism]

New Jersey is America’s future under corrupt Democrat power. America becomes a monster that feeds itself by consuming itself. The Democrat party was and is the party of slavery.

[Leisler]

"Second, why hasn't bound labor reemerged in the modern world? Elites in developing countries can no longer be confident in their ability to earn hefty incomes by employing workers and paying them much less than their average product: an elite monopoly of land ownership is no longer worth much. So why haven't they responded to the potential erosion of their collective economic edge by turning to politics and force to bind workers. One answer is that, to some extent, they have: Consider that modern states are surprisingly effective as tax-collection machines, and in large chunks of the world the elite's power and (relative) prosperity is rooted in its "new class" control over the flow of resources from the state."

Evsey Domar (1970), "The Causes of Slavery or Serfdom: A Hypothesis," Economic History Review 30:1 (March), pp. 18-32.

[doc1019]

My wife is from NJ and we lived there for many years … had to leave, taxes got to be too much. I really believe that NJ is a great place to live, and is a beautiful state (called the Garden State after all), once you get south of NY, and hated to leave … but a dollar only goes so far.

[doc1019]

Just wondering … at some point all the moneymakers (taxable people) will be out of NJ, than what will happen … national bailout of a state? Lord help us.

[ken21]

watch’em tax their way out of the problem!

/s