From the AP:
New Jersey Gov. Jon S. Corzine on Tuesday said the state could be facing a budget deficit as large as $3.5 billion next year.
A deficit that large could require the state to either increases taxes or cut services to balance next year’s budget, but Corzine noted state tax collections remain ahead of projections.
The deficit has been projected at $2.5 billion.
“It sort of depends what the economic conditions are, and they’re pretty broadly in dispute among a lot of the prognosticators,” Corzine said. “Revenues are coming in pretty well, as far as I know, at this stage.”
The state Treasury Department said tax collections are 1.4 percent ahead of projections, with income and sales tax collections doing better than expected. That indicates New Jerseyans are making more money and buying more goods than expected.
“While we are pleased that collections are tracking close to targets, we also know that it’s early and the revenue picture doesn’t come into real focus until later in the fiscal year,” acting state Treasurer Michellene Davis said.
David Rousseau, a fiscal policy adviser to the governor, said any better-than-expected revenue is critical with next year’s fiscal woes looming.
“We will continue to watch performance of our revenues closely,” Rousseau said.
…
New Jersey faced a $4.5 billion deficit in 2006. Corzine proposed increasing the sales tax to close that gap, sparking a dispute with lawmakers that closed state government for a week. The tax was increased, but half of it was devoted to property tax relief.
how to make a low ball
http://www.drodio.com/faq/?p=86
Hovnanian fire no longer ‘suspicious’.
Grim
What is it then?
Managers may misreport returns, study says
Ellington reportedly the latest hedge fund to face valuation problems
http://www.marketwatch.com/news/story/hedge-funds-some-hedge-funds/story.aspx?guid=%7BD1251185%2D6A37%2D42F0%2D82BE%2D5E6411C73EE2%7D&dist=hplatest
If I was looking for companies and businesses operating in Montclair where could I find this info. I’ve gone on Montclair’s website and also the North Essex Chamber of Commerce. Might have to let my fingers do the walking and crack open the yellow pages, but thought there might be some online tools.
Thanks.
Corzine is full of manure….
The budget deficit is bigger than that…..
SAS
We need to elect more liberal Democrats to solve the problem, force all business to leave the state, import more illegal aliens and give everyone free health care – then we would have prosperity.
yep. Dems in Jersey behave like Republicans do at the Federal level.
Meanwhile: “(CBS) MANTECA In the Central Valley community of Manteca, police have a new job: patrolling hundreds of foreclosed houses left empty and abandoned. They are half million dollar houses, often bought with nothing down, turned into suburban blight. ”
http://cbs5.com/local/local_story_282022014.html
“A deficit that large could require the state to either increases taxes or cut services to balance next year’s budget, but Corzine noted state tax collections remain ahead of projections.”
OK – I vote CUT SERVICES
#8 –
…..and they lost control of congress – as they should have. when is that going to happen in nj?
it’s probably just easier to leave the state, then to make the changes that need to happen.