RICK MERKT FOR STATE ASSEMBLY

JACKSON AND SCHINDLER 'IN DENIAL' ON STATE DEBT

CANDIDATES DENY PUBLISHED REPORTS ON GROWING STATE DEBT

IS DENIAL DUE TO SHODDY RESEARCH OR DESIRE TO FOOL PUBLIC?

EITHER WAY, THEY DON'T BELONG IN THE LEGISLATURE

October 19, 2005

FOR IMMEDIATE RELEASE

JACKSON AND SCHINDLER 'IN DENIAL' ON STATE DEBT

CANDIDATES DENY PUBLISHED REPORTS ON GROWING STATE DEBT

IS DENIAL DUE TO SHODDY RESEARCH OR DESIRE TO FOOL PUBLIC?

EITHER WAY, THEY DON'T BELONG IN THE LEGISLATURE

Assemblyman Richard A. Merkt (R. - Morris) today criticized Democrats Thom Jackson and Janice Schindler for issuing a press release denying the rapid growth of state borrowing over the past four years. Merkt noted media reports published this past spring confirmed the burgeoning growth of the state debt, which is now approaching $30 billion, roughly double New Jersey's debt just four years ago.

"It is alarming that people who hold themselves out as serious candidates for the New Jersey Legislature could deny the existence of one of the most troubling problems in state finances," said Merkt. "They’re obviously out of touch with fiscal realities in Trenton."

The State of New Jersey has issued billions of dollars of new state bonds in recent years, using contract debt and other gimmicks to get around the people's right to vote on new state debt. Merkt noted that Jackson and Schindler's release failed to level with the public about the existence of these debt obligations or to denounce state borrowing abuses.

"These are people you cannot rely on to tell the whole truth about the dire state of New Jersey's finances," commented Merkt. "Whether it stems from incompetent research or a deliberate effort to mislead, Jackson and Schindler's statement misinforms the public and raises grave doubts about whether either of them is fit to serve as a legislator."

Merkt observed that press releases issued by the Jackson and Schindler campaign habitually contain factual errors, half-truths, and distortions.

"It is apparent that in politics, as well as war, truth is often the first casualty," said Merkt. "The people of Morris County deserve better from those who seek to represent them. I urge Jackson and Schindler to at least try to get their facts right in their future press releases."

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