GOP Budget Leaders Decry Corzine's Election-Year Brinksmanship

The six Republican members of the Senate Budget and Appropriations Committee said today's testimony shows Governor Corzine has created a breathtakingly irresponsible budget that will inevitably result in crippling tax increases on New Jersey's middle class if he wins re-election. Testimony on revenue collections show the budget proposed by the governor just a few weeks ago is already out of balance by at least $100 million. The senators urged the governor to fulfill his constitutional obligation to submit an honestly balanced budget.

"This proposed spending plan will end the year with a deficit of at least $100 million," Republican Budget Officer Anthony Bucco said. "Rather than make the hard choices, the governor has produced an election-year budget."

"Governor Corzine's spending plan is full of more one-shot gimmicks than any budget in history," said Senator Kevin O'Toole. "The public and the press should demand that the governor state what he plans to do next year when the stimulus money is gone, the pension funds are depleted and the 'temporary' tax increases have driven more hard-working taxpayers from the state."

"The governor could have used his budget to position our state for future prosperity," Senator Phil Haines. "Instead, this spending plan will guarantee year after year of deficits and efforts by Democrats to squeeze ever-more taxes out of an overburdened middle class.'

"For three years, this governor rolled the dice and bet that someone, somewhere would bail out New Jersey so his administration wouldn't have to show the discipline to cut spending and build a surplus," Senator Steven Oroho said. "This fiscal brinkmanship, combined with the worst economic growth policies in the nation, have left New Jersey far more vulnerable during this downturn than any of our neighboring states."

"The future catastrophes this budget creates will be the legacy of Jon Corzine and all lawmakers responsible for its passage," said Senator Marcia Karrow. "Voters will not forget who approved job-killing new taxes during a recession."

"Wall Street 'geniuses' created this crisis," said Senator Joe Pennacchio. "It's incredible that a former Wall Street insider hasn't learned a thing from the ignominious downfall of his friends and former colleagues. New Jersey's budget should not be balanced with Wall Street gimmicks that will push this state closer to insolvency and economic ruin."

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