Half-Truth on New Jersey Fiscal State

Truth in Accounting released a report today on the Financial State of the States based on data provided by the states.

New Jersey came in last based on the numbers but we have two, if not entirely unique at least exaggerated, burdens to bear here that put us in a much worse fiscal position:

  1. A property-tax cap that exploded local debt: To keep gravy trains fueled after a 2% tax-cap was enacted in 2010 localities looked to repay campaign bribes with debt that is now sinking Atlantic City with other cities (Roselle) about to follow.
  2. Our politicians: Unlike Illinois and Connecticut where politicians are struggling to find solutions (however misguided) to their pension crises, in New Jersey we have a fairly reasonable way forward gathering dust and key positions in government staffed with assholes and miserable pricks (per opening arguments).

Though tragic on its own, this is not the whole story:

tia-nj

16 responses to this post.

  1. Posted by dentss dunnigan on September 19, 2016 at 4:23 pm

    All that matters to the taxpayers is when did Christie know about the bridge closing and when ….I know that’s exactly what’s on every taxpayer minds because the democrats told us so

    Reply

    • Posted by Anonymous on September 19, 2016 at 4:30 pm

      More like he did and can do no wrong because that’s what the Republicans say. Same loaf of bread just depends on how you want to slice it.

      Reply

      • Posted by Bpaterson on September 20, 2016 at 11:37 am

        and a useless issue to either party. bread and circuses while the state either goes down the tubes or becomes totally a kleptocracy.

        Reply

    • All that matters to the taxpayers is when did Christie know about the bridge closing and when …
      I tell you what, if those two Ass Clowns are convicted I am PRAYING they do a 5-8 year prison term. 10 years would be even better. What they did, day after day after day, was so out of control and despicable that I am still in shock ANY government employee would stoop so low, but especially high level/upper management employees with direct access to Christie. F’ them!

      Reply

  2. Posted by Anonymous on September 19, 2016 at 4:38 pm

    Which half, the one published here or the one published by the State.

    Reply

  3. Posted by dentss dunnigan on September 19, 2016 at 6:21 pm

    It will be interesting to see how the state intends to get that $54,900 out of the millennials living in their parents basement . NJ is # 1 in that department

    Reply

    • Posted by Anonymous on September 19, 2016 at 7:20 pm

      That’s too easy, inheritance if they don’t rightfully relinquish it – LOL.

      Reply

      • Posted by Anonymous on September 20, 2016 at 5:49 pm

        There won’t be much to inherit at the rate this state is going the retired and almost retired folks will most likely outlive their retirement savings and the youngins won’t have the money to pay the estate taxes

        Reply

  4. Posted by Anonymous on September 20, 2016 at 9:09 am

    I don’t know why you anti public’s think the egregious retirees move to FL or NC. Heck on their grossly excessive P&B I’m thinking Hawaii – book em Danno….LOL

    Reply

  5. Posted by Anonymous on September 20, 2016 at 11:55 am

    Better a taxpayer bailout for the working class than the Wall Streeters!

    Reply

    • Better a taxpayer bailout for the working class than the Wall Streeters!
      I agree 100%, I am still amazed at how the Feds gave TARP $$$ at 100 cents on the dollar to Goldman Sachs vie the AIG bailout, when Goldman would have been BK if not for TARP. Goldman should have been relegated to 10-20 cents on the dollar, that would have kept Goldman and the rest solvent without screwing over middle America for Millionaires and Billionaires on Wall Street. But alas, America is now basically a Banana Republic where he who gives the oil ($$$) have their wheels well oiled ($$$) in return by a factor of 1,000 to 1 usually (ask Billary why Goldman pays her $200K for a 20 minute “speech”). Former AUSA Neil Barofsky is who we need running Treasury.

      Reply

  6. “…in New Jersey we have a fairly reasonable way forward gathering dust and key positions in government staffed with assholes and miserable pricks (per opening arguments).I LOVE it, speak the truth John, it will set you (and the rest of us) free. Never be afraid to speak the truth, fuck these Ass Clowns and Pricks!

    Reply

  7. […] blog to get up as it mirrored what was put up one year ago today with only changes being the TIA updates and the Roselle bankruptcy […]

    Reply

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