Solving New Jersey's Debt

Remember when Acting Governor Codey was floating the idea of selling the Turnpike to help close the state’s budget deficit? Well, the idea is still floating around:

Hey, New Jersey, want to make $20 billion? Sell the highways.

That's what the analysts at Merrill Lynch & Co. say the state could make if it sold the New Jersey Turnpike Authority, which operates both the Turnpike and the Garden State Parkway, more than 300 miles of roadways that between them collect $716 million in tolls and fees every year.

Privatization allows governments to immediately recover their capital and re-direct resources toward vital functions,'' wrote Villaluz, who also observed that some people would argue that running a toll road was never considered a core function of government anyway.

Now if we want to tap into the really big bucks, let's just sell a few school buildings.