debt

Extra $1 Billion Demonstrates Why Voters Need to Approve All Borrowing

By bschnure - March 10, 2008 - 1:13pm

Tags: Leonard Lance, budget, borrowing, debt, voter approval,

Release Date: Mar 10 2008

Senator Leonard Lance (R-23), the Republican Budget Officer, responded to the introduction of legislation that would allow the New Jersey Economic Development Authority to borrow $3.5 billion for school construction without voter approval. The legislation, S-1457, was introduced by Senators Turner and Rice on March 6.

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Two Weeks After Declaring A Fiscal Emergency Corzine Borrows Another $2.5 Billion

By wmurray - January 23, 2008 - 7:50pm

Tags: Corzine, Kean, Lance, debt,

Release Date: Jan 23 2008

Senators Thomas Kean, (R-21), and Leonard Lance, (R-23), issued the following statement today blasting the Corzine administration for agreeing to borrow an additional $2.5 billion. The additional debt will be used to fund unfinished building projects in the 31 Abbott special needs districts.

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January 17, 2008 - 6:41pm

The Left Marches on Part 8: Modern day Plunder

By Steve Lonegan

Tags: Jon Corzine, Taxes, asset monetization, toll roads, debt

This year’s toughest political battle in New Jersey may be the biggest gimmick in Wall Streets history. Governor Corzine’s Asset Monetization proposal is said to reach as high as forty billion dollars and may be the largest borrowing plan in the world. It is a gimmick that will leave a legacy of massive government growth and several life times of financial destruction resulting from poor judgment.

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July 24, 2007 - 7:34pm

Local governments reduced to begging

By Steve Lonegan

Tags: Corzine, DeCroce, Abelow, tax, debt

The state budget was passed June 23, more than four weeks ago. But today, July 24, hundreds of towns are still waiting for a decision on extraordinary aid applications. Final budgets cannot be adopted and tax bills issued without these awards. The result is many towns are forced to issue estimated tax bills or float Tax Anticipation Notes (short term debt). Both alternatives are costly to taxpayers and unnecessary if the Department of Community Affairs (DCA) would do their job in a timely manner.

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