Make Increase Contingent on Hands-Off
Okay folks, let’s look at the state debt realistically. New Jersey has $32 billion dollars of debt today. While there have been cuts in various areas, the state still has a staggering amount of debt. Something has to be done. No, I do not like the idea of raising the tolls on toll roads any more than I like the idea of selling off state assets. The thought of raising the tolls 50 percent is mind boggling but if it gets applied to the debt through infrastructure maintenance and transportation needs then let’s just get the debt down.
“We are in a hole, and if we want to get out, we have to stop digging,” Corzine said. “All in all, we need close to $40 billion over the next 10 years to fix and expand our bridges, roads, and mass transit.”
Frankly, I say ok to this first increase and the others contingent on the money being used for the above stated purposes. If it gets diverted in any way or borrowed against then all future increases are off. Period, no second chances. Perhaps by making the future increase contingent on the past one being used as intended, might (note I am saying might mind you), might keep the legislature from pinching bits from it here and there. If we are serious about lowering the debt, then make sure the legislature knows it is hands off this money!