We have studied the numbers and we agree with Jon Corzine. There's little choice but to either raise taxes (which we oppose) or leverage state assets in some way similar to what he has proposed. Even with major spending cuts (which should occur regardless of what happens), the people of New Jersey are still in too deep.
In our view, Republicans are going about this all wrong – trying to stop Corzine. Instead of stopping him, we believe Republicans should make Corzine pay a big price for their support – one that will actually make the state more affordable.
More on this later.
Labels: Asset Monetization, Jon Corzine, New Jersey, State Budget