U.S. CONSTITUTION:? FIRST AMENDMENT😕 Congress shall make no law. . . abridging the freedom of speech. . . or of the right of the people to peaceably assemble and to petition their government for a redress of grievances.
NJ CONSTITUTION:? ARTICLE I, SECTION 18😕 The people have the right freely to assemble, consult for the common good, to make known their opinions to their representatives, and to petition for redress of grievances.
(CORZINE’S LIES ARE TAKEN FROM HIS TAXPAYER FUNDED WEBSITE.?? THIS IS WHAT HE SAYS AT ALL THE PUBLIC HEARINGS.)
CORZINE’S LIE:?? “The $2.5 billion “Structural Deficit” is caused by the State’s present inability to match recurring revenues to recurring expenditures.”
TRUTH:?? NJ’s State? Government gets $32.5 billion from taxes each year. This is $4,000 for every man, woman, and child in the state!?? It does not count billions more paid in property taxes for county and local governments, and public schools.?? In just six years, Democrat Governors Corzine, Codey, and McGreevey increased spending from $21 billion to $33 billion.? This is 9.5% per year, or roughly 3 times the cost of living!?? Corzine can easily roll back spending to what it was before-but he doesn’t want to!
CORZINE’S LIE:?? “NJ has $113 billion in long term obligations which result in large budget requirements.”?? They are bonded debt ($30 billion), unfunded pension liability ($25 billion), and? Free Medical Insurance for Retired Government Employees who worked more than 25 years ($58 billion).”
TRUTH:?? NJ taxpayers only owe $3 billion, or less than 3% of that money.?? NJ’s Supreme Court repeatedly ruled that NJ taxpayers are not legally obligated to pay any debts or liabilities not approved by voters pursuant to Article 8, Section 2 of our State Constitution.? There is no legal or moral obligation to pay the rest of that money.?? $27 billion of the bonded debt is “junk bonds” issued by dummy corporations with no power to bind state government.?? Investors who bought those “junk bonds” were aware of the risk.?? The NJ pension fund is broke because Republicans and Democrats hiked pension benefits by 9% in 2001 without setting aside money to pay for them-a violation of our State Constitution.?? These politicians also voted free medical insurance for retired government employees with more than 25 years of employment-also with no money set aside to pay for them in violation of Article VIII, Section 2 of our Constitution.?? Two years ago, a bi-partisan panel of the legislature recommended that these benefits be cut back – both the Senate and Assembly were ready to do it.?? But Corzine stepped in, and blocked the cutbacks!
CORZINE’S LIE:?? Paying down $10 billion of NJ bonded debt will help NJ taxpayers.
TRUTH:?? Only Corzine’s Wall Street friends will benefit.?? They made millions when they issued worthless bonds that violated the NJ Constitution.?? If they were guilty of fraud, they should pay their victims – not? innocent NJ taxpayers!
CORZINE’S LIE:?? “By accessing $38 billion of the toll roads’ value, we can pay down half the State’s debt, make critical investments in roads and bridges, and put State on fiscally responsible path”.
TRUTH😕 The plan will borrow $38 billion at double the interest rate of current debt, and mortgage NJ’s best highways to foreign investors like the Chinese, Arabs, and Russians for the next 77 years.?? And it sets up an expensive new government agency that will be run by those investors. Another $4 billion will pay for a gimmick that will let Corzine spend $34 billion right away, but delay toll hikes to pay for the loan until after the 2009 elections!?? Our children, grand-children, and great-grandchildren will be forced to pay that debt back with interest for the next 77 years through exorbitant tolls.??? Much of that will be paid indirectly through higher prices.?? Towns that depend on tourists and commuters will be devastated.?? Why not just raise taxes to pay this debt??? That would require a vote of the people!
Seth Grossman, Executive Director, www.libertyandprosperity.org,
453 Shore Road, Somers Point, NJ? 08244.?