"Knowledge will forever govern ignorance

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Tuesday, February 26, 2008

New Jersey State Budget Comparison 2008 vs 2009

The text of Governor Jon Corzine’s budget address may be read here and a summary of his proposed New Jersey state budget for 2009 may be reviewed here.

The following is a comparison of Governor Corzine’s 2008 vs. 2009 state budget by revenue source and expenditure by budget area.

Data Source: New Jersey Department of the Treasury – Office of Management and Budget
2008 New Jersey State Budget
2009 New Jersey State Budget

Update: The 2009 budget proposes $334 million be set aside as a "long-term obligations and capital expenditure fund". In other words, Governor Corzine is proposing no reduction in state spending as compared to his 2008 budget proposal. However, the Governor’s 2009 budget proposal is $177.9 million leas than 2008’s adjusted appropriations of $33,470,900,000.

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At 3:36 PM, Anonymous Kate said...

Wow - one whole freakin percent... I may faint.

At 5:00 PM, Anonymous Bob said...

I would have preferred to see actual dollars reduced.

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Waitaminnit ...

If we have such a looming debt crisis, how is it that DEBT SERVICE has the largest percent reduction of any spending category?

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Five years ago it was $24 billion. Now it is a victory to keep it at $33 billion? Is there tainted beef here, or what?

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Imagine adding 4.2% to your mortgage payment? Well that’s what’s being added to your income tax payment!
It another nail in the coffin of NJ real-estate and business!

Wow! another person I can't hire due to increased taxes! NO wonder the state needs to take care of everyone. Jobs are being lost to taxes!

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It's fascinating to see these numbers, and in a way, it's hard to grasp the reality of how monstrous the state's annual operating expenses are. It does give some clarity as to why taxes are so bad, though.

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