Tom Kean: New Jersey Has a Unique Economic Problem

'In terms of job growth, New Jersey fell significantly behind its economic peer states in 2007. New York's rate of private sector employment growth was 12 times that of New Jersey, while Connecticut's was eight times higher, Massachusetts' was seven times higher, and Pennsylvania's was six times higher.'

-- Reversal of Economic Fortune: Regional and State Prosperity at Risk, A Rutgers Regional Report

Republican Senate Leader Tom Kean gave this response to a news release from Governor Corzine saying New Jersey's Republicans should talk to the president if they are concerned about the economy:

"As respected economic researchers Seneca and Hughes said in their Rutgers report, New Jersey lags neighboring states in private sector job growth. In their forecast, which was released in April before the current Wall Street crisis, the two economists stated that they expect our economy to continue to lag that of our neighbors. (See http://policy.rutgers.edu/reports/rrr/rrrapr08.pdf )

"Republicans have put forward one idea after another to restore New Jersey's reputation as the economic engine of the Northeast. We have a package of six economic development bills that business people from around the state have endorsed. We've asked for the dedication of money to the Transportation Trust Fund so that vital projects are no longer delayed. And we've asked the governor to take another look at reducing spending now that our income from Wall Street seems destined to plunge.

"I welcome the opportunity to sit down with the governor and discuss those proposals. We can't if he continues to pretend that the problem and our proposed solutions don't exist." (To see the proposals Republicans put forward in May, go to senatenj.com and click on the big blue box that says "A Common Sense Plan for a More Affordable New Jersey.")

"New Jersey's problem economy needs a New Jersey solution," Senator Kean said. "We shouldn't wait for Washington or Wall Street to take decisive steps today."