Comments on: Bleak outlook for Jersey economy

By: otis wildflower

otis wildflower — Thu, 30 Nov 2006 22:40:47 +0000

"Hmmm, bad like Detroit bad…?" Already done that?

By: BlaBlaBla

BlaBlaBla — Wed, 29 Nov 2006 21:03:26 +0000

“is she a dem?”

Yes, for all intents an purposes.

By: anon

anon — Wed, 29 Nov 2006 19:54:56 +0000

blablabla
was Whitman not responsible for investing pension money in tech stocks? is she a dem?
by the way they invested in reits in the past 2 years

By: Al

Al — Wed, 29 Nov 2006 19:33:45 +0000

hmm. ok I asked this one before – Can the state go bankrupt

– or would it instead raise taxes on everybody to 40% for a few years??

Anybody date to suggeste timeframe whgen 30 trillions deficite and making more this years will finally catch um with NJ (eg – state will stop paying teachers/police/firefighters for a while because tehre will be no money)???

there will go our good schools and ….. wait what else is good in NJ again?? .. Ohh yea, Shopping malls…

So again any predictions/ways for the state to get out of debt (except unrealistic ones which will neve happed in NJ: govermental workers would have to start earning less than private sector again, no pensions/no unions)??

By: BlaBlaBla

BlaBlaBla — Wed, 29 Nov 2006 14:13:10 +0000

“unions arent bankrupting the state its the politicians”

In NJ, Union = Democrat Politician, they are interchangleable.

By: Housingbear

Housingbear — Wed, 29 Nov 2006 14:12:54 +0000

The pols are between a rock and a hard place. The pension obligation is like a black hole. If they fully funded it, there would be nothing left for anything else unless taxes were significantly raised or services cut. Of course, cutting services means cutting union jobs, which NJ pols won’t touch.

I actually think its about time that state employees join the rest of the world and take at least partial responsibility for their own retirement in the form of a 401(k).

By: BC Bob

BC Bob — Wed, 29 Nov 2006 13:18:23 +0000

“In the midst of an apparent economic slowdown, our members see more of the same ahead: very slow growth,”

Did anybody say puff to the 20% decline in property taxes??? Now with less revenue coming into the state, what’s the answer. Raise taxes??

By: anon

anon — Wed, 29 Nov 2006 11:50:32 +0000

jim
the unions arent bankrupting the state its the politicians. if they kept their hands off the pension funds the money would be there. just like s.s. the pols are screwing it up and the next generation will pay for it 401k style

By: James Bednar

James Bednar — Wed, 29 Nov 2006 11:28:01 +0000

From the Star Ledger:

Business leaders gloomy about ’07

New Jersey business leaders have turned decidedly pessimistic about the coming year, according to a survey released yesterday by the New Jersey Business & Industry Association.

“This is the least optimistic outlook of the last 16 years,” NJBIA President Philip Kirschner said during a Trenton news conference.

He said 51 percent of the 1,700 respondents expect the state’s economy to worsen in the first half of 2007, and 12 percent expect improvement. Weaker 2007 numbers are expected for sales, profits and employment, compared with expectations a year earlier.

“This recession indicator now has reached its highest level since September 2002,” Kirschner said. “But it’s premature to say that we’re heading for a recession. The numbers are still more positive than negative. The economy is growing, but the growth is very weak and sluggish. I don’t think we’re heading for a recession yet.”

Economist James Hughes, dean of the Bloustein School of Planning and Public Policy at Rutgers University, said, “The basic message (of the survey) is that we’re not going to turn around businesses’ perceptions very quickly. It is going to take some time to do that.”

By: Jim

Jim — Wed, 29 Nov 2006 04:05:50 +0000

No, bad like we will not be able to meet our pension obligations, unions will bankrupt nj

By: Rich In NNJ

Rich In NNJ — Wed, 29 Nov 2006 03:52:39 +0000

Hmmm, bad like Detroit bad…?

By: Jim

Jim — Wed, 29 Nov 2006 02:56:34 +0000

Being self -employed I can relate to this article.
Business has dropped off of the edge of the earth, it will take some time for it to show up on the radar—but it will.

Taxes, including the new sales tax, will help shut this economy down,unions will eventually kill the golden goose—Good Luck to all of us!!!!

By: pesche22

pesche22 — Wed, 29 Nov 2006 02:53:46 +0000

did we expect anything else. its getting worse
not getting better. NJ has turned into
nothing more than a welfare state.

The numbers don’t lie.

and the spending does not stop.