NJ Republican Chairman Tom Wilson

ECONOMIC PROBLEMS WILL GET WORSE BEFORE THEY GET BETTER UNDER CORZINE
Governor Fails To Do What's Needed to Jump Start Economy Trenton, NJ - New Jersey Republican State Chairman Tom Wilson issued the following statement today regarding Governor Corzine's Economic Growth Strategy:

"During the 1990's, Republicans in New Jersey helped create a vibrant and thriving economy that was the envy not just of our neighbors, but of the nation. Our unemployment rate was below the national average, we created hundreds of thousands of new, high-wage jobs and ushered in a wave economic prosperity that benefited every citizen.

Five years of Democrat tax hikes, runaway government spending and corruption have taken us from the top of the economic world to the bottom of the heap.

As a former Wall Street banker, Jon Corzine should be keenly aware of the destructive role government can play. He deserves some credit for bringing focus to a problem that is entirely of the making of his own party.

Unfortunately, Jon Corzine's proposal today seems to be long on studies, commissions, and new job opportunities for those willing to work for the state. What it lacks are any bold and immediate steps to revive what is clearly an economy in deep distress.

Earlier this week, the Federal Reserve Bank in Philadelphia forecast the lowest rate of economic growth rate for New Jersey in five years. New Jersey's economy is hemorrhaging badly and needs emergency triage.

I've heard the same theme time and time again from New Jersey business leaders: government isn't the solution to our problem, it IS our problem. From cumbersome and punitive regulatory schemes to taxes that drive up both the direct cost of doing business and the cost of labor, New Jersey's government is smothering the goose that lays the golden egg.

There is only one strategy that can fix New Jersey's economic problems and that is to dramatically and substantially reduce the size and scope of state government and cut taxes. While some of Governor Corzine's proposals are good and necessary to improve our economy in the long-term, his failure to jump-start the effort with some bold and dramatic steps will only mean that our problems will get worse before they get better."

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