Corzine Doublespeak

Corzine embraced the recent Moody Rating of New Jersey:

“The affirmation of New Jersey’s credit rating by all three rating agencies is a sign of confidence in Gov. Corzine’s overall handling of fiscal matters in these historically challenging economic times,” Treasury spokesman Tom Vincz said.

In a classic case of myopia, Corzine focused on the short-term “stable” rating while neglecting to see the ramifications of his long-term policies of which Moody’s were particularly critical.

Republicans came out forcefully, blasting Corzine’s indifference to the precarious situation the state is in.

“It strains credulity to greet a critical report by claiming it is good news and refusing to address any of the report’s underlying concerns,” said Senate Republican Leader Tom Kean, of Union County. “Gov. Corzine is deluding himself and the taxpayers if he refuses to acknowledge an $8 billion structural deficit, much less do anything about it.”

It seems Corzine wants to pick and chose what he will take credit for.  For instance:

Moody’s was critical, for example, of state use of nonrecurring revenues to fill budget gaps, “leaving the state with a sizable structural imbalance.”

Corzine repeatedly has railed against the use of so-called one-shot revenues, or one-time budget fixes that cannot be tapped again. Examples in the current budget include decreasing the state’s contribution for pension funding by $940 million and increasing, for one year, income taxes for the state’s wealthiest residents.

The one-shot deals were one of the more prominent broken promises, or should we say “lies” from the Corzine administration. He promised “no one-shot” deals in creating New Jersey budgets when he campaigned for office, and quickly broke that promise. We doubt he ever intended to keep that, or any other promise to New Jersey taxpayers.

He quickly worked to increase state taxes and fees once in office, and has fervently worked to increase every fee he missed in previous budgets, and is always looking for another tax to add or increase in his never-ending quest to bankrupt the middle-class in this state.

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