Tuesday, May 17, 2011

Unexpected! NJ to Take in $913M More in Tax Revenue for 2012

Naturally, before the money is even counted the Democrats are eager to spend it. Can we at least point out the Governor may be on the right track fiscally and applaud him for getting our finances in order?
New Jersey is projected to take in $913 million more than expected in tax revenue through June 2012, according to new projections by the nonpartisan Office of Legislative Services.

The revised estimate will likely spark a partisan battle over how to spend the unexpected windfall as lawmakers consider Gov. Chris Christie’s proposed $29.4 billion budget.
Why do we automatically have to go and spend it? Why not step back and take a solid look at where the money would best go. I have an idea: Property tax relief. Of course the Democrats want to dump it right back into failing schools. What a surprise.
"The governor has balanced his budgets on the backs of the middle class, now this gives us an opportunity to undo that," said state Sen. Paul Sarlo, who as head of the Senate Budget Committee reviewed the OLS estimates.

Sarlo (D-Bergen) said he will push the administration to use the money for additional property tax relief and funding to schools, but stopped short of saying Democrats will offer their own budget proposal.

Assembly Budget Committee Chairman Lou Greenwald (D-Camden) said the money should be used to "restore some of the pain" Christie has caused with his budget cuts.
Why would anyone expect the Democrats to offer their own plan when they can stand on the sidelines and take cheap shots at Christie? They should give the man a standing ovation, yet instead they're stil whining like babies.
Christie spokesman Michael Drewniak said officials need to approach any good news prudently.

"While New Jersey is seeing signs of economic recovery, it is important to keep moving forward on a sound fiscal path and not revert back to Trenton’s out of control spending ways at the first sign of growth," Drewniak said.
Exactly. Remmeber this is a projection. It could well fall short, we could have a double-dip recession or any unforeseen calamity could affect the budget. So Christie's thinking ahead, not looking to just go on a spending binge.

It should help his image nationally while you have the GOP gazing longingly in his direction. Just imagine if such success continues under his leadership for a few years.

Frankly, I'm surprised the Democrats haven't given Obama the credit yet.

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