Governor Corzine Stands Tall: On Policy & Principle

Bringing more focus to his objective of restructuring state finances and a renewed emphasis on the principles of financial reform, Governor Jon Corzine outlined his plan to reduce state debt by 50 percent and to restore fiscal responsibility. The Governor stood tall, displaying political courage and fortitude.

As Tom Moran of the Star Ledger wrote: "...the governor was on his game, relaxed and articulate. He's finally made the big decisions on how to fix the state's finances, and he seemed to be at peace. When he said he is willing to fight to the death to get it done, he sounded like he meant it."

Read Moran's column Here

The Governor, a former Chairman of Goldman Sachs, the prestigious Wall Street investment firm, stressed the importance of substantially reducing state debt. His plan, when finished, will be devoted almost entirely to debt reduction.

As the Bergen Record reported: "Corzine said his plan would slash $16 billion off the state's $32 billion in bonded debt, a burden that averages out to $3,700 for every resident. He said the state's fiscal outlook is even bleaker because of an additional $75 billion dollars from under-funded pension payments and medical benefits for retired state workers.

"We will get one chance at serious financial restructuring, and it has to be done right," he said."

Read the full story here

Underscoring his commitment to fiscal reform - as well as his political courage - the Governor said the state's financial future is more important than his personal political future.

As Gannett reported: "It's time for we elected officials to stop being afraid and cautious and do something bold to right the ship," Corzine said. He later added: "I'm willing to lose my job if that's necessary to set our fiscal house in order."

"Along with paying down debt, Corzine said, his plan will provide permanent funding for transportation needs and will include new restrictions on state borrowing."

Read the full story here

The Governor said that in addition to cleaning-up the financial mess of the past, he wants to put preventive reforms in place.

As the Star Ledger reported: "Calling for "transformational change" in the state's finances, Gov. Jon Corzine said yesterday his plan to raise tolls and pay down state debt will include new limits on future borrowing so New Jersey does not repeat "the mistakes of the past."

The "most important structural reform" he will propose, Corzine said, will "create greater public control over future debt as a means of protecting taxpayers from the mistakes of the past."

Read the full story here

The Governor also spoke to the need for leadership on the state's future.

As he said: "The point is the citizens of New Jersey have every right to demand, that we public officials, put our fiscal house in order so we are partners in their success, not a burden to their future. To that end, I hope you will be prepared to join me, with an open mind and a seriousness of purpose that will enable us to take on, and overcome, these challenges. If we do, there is no question, New Jersey’s best days lie ahead."

Read his full speech here

Cryan Condemns Cardinale's Political Comments

Trenton - Joseph Cryan, Chairman of the Democratic State Committee, issued the following statement today condemning the divisive political comments by Senator Cardinale and dismissing Cardinale's post-election explanations as empty excuses:

"Senator Cardinale's campaign tactics were disgraceful and divisive. Inflammatory rhetoric that demonizes any ethnic, racial or religious community should not be part of any political dialogue. There are no good excuses for smear tactics and no good reasons for hateful language.He should put an end to this and see that it isn't repeated."