NJ Gov Christie Gets It

New Jersey Republican Governor Chris Christie has announced across-the-board spending cuts and budget freezes as his state attempts to deal with a massive budget deficit.

"Calling New Jersey's budget a "shambles," Gov. Chris Christie announced Thursday he is immediately freezing all state spending.

Saying New Jersey is on the verge of bankruptcy, Christie declared a fiscal emergency, announcing drastic cuts. Among them, aid to school districts that have excess surpluses."

Christie is right to attack the spending side. Salaries and benefits lavished on state-employed union members have been far too excessive. Budgets at all government levels have grown too big.

"Former Gov. Jon S. Corzine was too optimistic about tax collections in the weak economy, and based this year’s spending on that unfounded optimism. Now that tax collections have fallen behind projections, and some costs have risen, deep cuts are required."

Of course, some pro-spending observers might that raising taxes would cure the state's "temporary" fiscal woes. However, they would be wise to consider that residents of New Jersey are mobile, and can move to states that don't over-tax their residents, as this article highlights.