Governor Christie Talks Budget Cuts
Governor Christie is talking budget cuts. Democrats who control the legislature are talking tax hikes.
It's a tired old debate that is being rekindled as the state faces another budget deficit both this year and next. Tax revenues are off for this year, and the likelihood that New Jersey will run out of money by the end of the year is growing.
The problem is actually a simple one, there is more money scheduled to go out than is scheduled to come in. If that happens in your household budget, you really have only one choice: cut back on your spending.
How great would it be if we could simply walk next store to our neighbors' house and simply take some of their money to pay our bills, and not have to cut back on anything? That's the thinking by many in Trenton. Add in a heaping dose of politics, and here we go again.
Not enough money? Raise taxes. Democrats have said they will again try to pass a tax hike on millionaires. Governor Christie has again said he will not sign it. It will become a political football that will get passed back and forth with both sides trying to gain an advantage heading into a critical election.
Christie has the advantage in this fight. Democrats will pass a tax hike. Christie wont sign it. Republican lawmakers will not give the votes for an override. However, with public support growing for a Millionaires' Tax, the Governor may win this battle, but loose the war over public opinion.