New Jersey

[sailaway21]

So what's the deal in New Jersey? I'm hearing rumblings that the state is so in debt that they may need federal loan guaruntees. Is this the apotheosis of Democratic and liberal Republican governance? I'll bet Massachusetts is glad some other state is taking the heat. What's up with that?

[bestfriend]

Who cares, but whats up with the short post and no link? You getting sick again?

[sailaway21]

NJ.com: Everything Jersey

State employees in NJ can retire at 55, btw.

They're talking about raising the tolls by 50% which would be a huge increase on all ready high tolls. You can drive for 6 hours on the PA turnpike for what a 20 minute trip on the Jersey Pike will cost you now.

There's already a measurable exodus of residents to Pennsylvania.

[bestfriend]

My guess is that you will hear a lot more of these situations popping up over the next few years. California is in trouble. Cities here are close to going bankrupt.

[Sapperwhite]

Alright AFOC, talk all the smack about Berkley you like, but when you bring Jersey into we got issues.

Freezing the budget won't do much anyway. He has done this type of thing before when he closed down the entire Nj government until the budget could be resolved. Remember AC being shut down for a few days until they passed the budget? No gambling boo hoo.

Nj is bad, if you own property, hahahaha! How's $15,000 property taxes sound to you? I wouldn't know either suckers.

Anyway, look at the mass exodus from Mich first AFOC.

******

"Michigan- Closed for Business

Once the thriving center of America's automobile industry, Michigan hasn't made a single business transaction since 1993.

Suffering from the highest unemployment rates in the nation and unable to rebound after the failure of it's upper-peninsula franchise, the Great Lakes State has been forced to close its borders. Accepting that most of metropolitan Detroit is unsalvagable, the state is just hoping to get what it can for the Capitol building before packing up and starting anew out east.
Though everyone agreed it had to be done, Michigan says the hardest part of closing up shop was informing Ned, the 65-year-old part-time employee who ran the Midwestern state for the last five years."

Thanks to the only news worth reading, The Onion

[sailaway21]

Hey!
I'm not arguing Michigan doesn't have problems. But Michigan's problems are economic. The state is in a recession due to the state of the auto industry. That's a bit different from New Jersey, where by all lights the economy is rolling along nicely and yet, the state is still broke and has already stolen the money out of the state pension fund. New Jersey is bona fide rich in terms of the wealth of it's citizens. It's effective tax rate is one of the highest in the nation. And yet, it's not only broke, it's seriously in debt. A distinction not without a difference.

[PBzeer]

Well geez, can't they just raise taxes to get out of debt? Obama says that's the way to do it, so it must be so.

[bestfriend]

Originally Posted by PBzeer

Well geez, can't they just raise taxes to get out of debt? Obama says that's the way to do it, so it must be so.

How about a parcel tax?

[xort]

so who will go bankrupt first, Mich or NJ?

[chucklesR]

Originally Posted by sailaway21

NJ.com: Everything Jersey

State employees in NJ can retire at 55, btw.

They're talking about raising the tolls by 50% which would be a huge increase on all ready high tolls. You can drive for 6 hours on the PA turnpike for what a 20 minute trip on the Jersey Pike will cost you now.

There's already a measurable exodus of residents to Pennsylvania.

SWAY, I thougt we'd already discussed the quality vs quantity concept

PA Turnpike is construction delays after pot holes. NJ turnpike is just rude people.