New Jersey’s Fiscal Crisis: Conflicts of Interest And a Man-Made Phenomenon!

by Salvatore Pizzuro

Possible “Conflicts of Interest” create a dark shadow that hangs over New Jersey.

New Jersey Governor Jon Corzine took office in January 2005 with the inheritance of a five billion dollar State deficit. The implications of this phenomenon on programs and services cannot be underestimated; it has already been announced that the deficit will rise in 2007. Most alarming, the electronic media has suggested that total debt may exceed twenty-nine billion dollars or approximately 94% of our current annual budget. Debt service will eat away at programs in education, services for the elderly and disabled, and sponsorship of police agencies, health services, etc. Furthermore, our public colleges and universities are struggling, financially, and families with modest incomes are finding it more difficult to provide a formal postsecondary education for their children.

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