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You're comparing apples and oranges. No one here suggested austerity measures are a good policy for the Nation.
They don't work at all. The way you fix a deficit is generate a surplus, cutting spending doesn't create a surplus, it's just a way to say you're "balanced." Balanced isn't good if you're not generating revenue, and austerity does that.
Give it up, please. Austerity isn't going to work for NJ because the only way austerity budgets work is if you raise taxes in addition to the budget cuts. They won't do that, so it won't work.
In case it's unclear what a Revenue Increase is, it means that New Jersey collected more taxes this year than they did last year. Kinda impressive considering taxes weren't increased, wouldn't you say?
And all this time I thought Austerity measures NEVER work unless you also increase taxes.
Revenues grew 3% over the last fiscal year in New Jersey.
As of April. May was already reported, and both were below expectations so the treasury lowered their estimates and 3% is no longer accurate. But you know that already, since there isn't anything about your state I could possibly know before you.
And it's time to clarify something, I don't give a sh*t about your nothing state, at all. Aside from the Meadowlands, there's no reason to go to New Jersey unless I'm driving through it to get to Bonnaroo. I just think austerity is b*llshit (which it is) and is in no way going to stabilize any form of gov't on the state level or higher. Austerity when your GDP is nearly half a trillion dollars is asinine. It MIGHT work in Europe because they're all raising taxes and are getting bailouts, but even they might still be screwed. New Jersey is a European nation in terms of GDP, which is why I used that example. Austerity is a way to get the rich richer, just another dumb ploy that people will buy into because the use of buzz words like "balanced budget" even though it's a croc of sh*t.
Do you work with the governor? Are you some low level aid or an intern or something? Why the hell are you toeing the party line so hard? Stop being a lemming and actually read about austerity budgets from something that doesn't come off of the governor's press desk.
And while I appreciate you continuously trying to undermine me as a know-nothing idiot, I went to a top 15 business school in the country and got duel degrees in economics and finance. As much as you'd love for me to be some know-it-all d*ck with an affinity for wikipedia pages and internet forums, it's not the case. I'm not going to sit here and have a poli-sci major recite Christie's press releases to me like he knows what they're saying.
You should read the entire article next time. Christie projected a greater Revenue Increase than 3% and it did indeed fall short of that projection. The result was a 3% increase.
I'll stick to the numbers. You can stick to the theory.
You should read the entire article next time. Christie projected a greater Revenue Increase than 3% and it did indeed fall short of that projection. The result was a 3% increase.
I'll stick to the numbers. You can stick to the theory.
(You are laughably incorrect, FWIW, the increase from FY2011 is now under 3%)
It's ok. Anyone with half a brain can google it and find out the truth. It was a good discussion. And I do appreciate your viewpoint when it comes to the National budget, given the exorbitant amount of debt we are in.
Meanwhile, despite your fun fact that NJ's GDP is "almost half a trillion" I.e. almost 500 billion, we are in debt 30 billion.
On May 23 and 24, the Treasurer reduced the Executive revenue estimates for FY 2012 by $514.0 million: $328.5 million less due to sharply lower receipts from energy-related sources, and $185.5 million less attributable to other tax revenues.
So are you. Everything is a projection until a full year after, when adjustments are incorporated into the figures. You're going off of raw data when you say 3% growth, which is a very inexact science, to say the least.
If you're going to use something to argue with, you can't discount it when it's used to prove you're wrong.
But now you've just proved my point, you don't know what you're talking about, so have fun being a lemming.
Regardless, a Revenue Increase has occurred for fiscal 2012 in NJ. Which is shocking since you said that NEVER happens unless you increase taxes...which Christie obviously did not.
My point then is satisfied, that Austerity measures CAN work in some places.
FALSE. The point of the 7-8% increase projection was to have a SURPLUS going into next year. He wanted to use that money for a tax cut in fiscal 2013 but only got a 3% surplus.
This is why he isn't getting the tax cut passed in the Senate for next year. Because the Surplus was smaller than he projected. And the bill he proposed is based on his prior/false 7-8% projection.
Regardless, a Revenue Increase has occurred for fiscal 2012 in NJ. Which is shocking since you said that NEVER happens unless you increase taxes...which Christie obviously did not.
My point then is satisfied, that Austerity measures CAN work in some places.
My point was that austerity doesn't get you out of debt. You still neglect that there is a $3 billion payment that you couldn't make, so it's pushed off to another year.
I honestly am ignoring this thread from now on, or at least your posts in it. You're an unreasonable person to have a discussion with. But you are not right, or even accurate. You're either completely fooled by a fast-talking governor, or happily propagating his failure as a success. Either way, I don't care, I hope your state falls into the Atlantic and gets eaten by a Kraken.
Little sad I sat this out yesterday. Werther was mixing up all his variables, there is no causation between Christie's balanced budget and the state's revenue increases. I mean, I went out drinking last night then found $5 on the way to work. That's no basis for a system of government. The national economy has grown, revenue increased. NJ is still lagging behind.
And now you'll NEVER have the chance to correct him.
Geez, I feel like an idiot reading the last page or so.
But I don't know how anyone can seriously like Christie - without being a major donor to him. The writing is on the wall that he does not care one iota for the common person in the state. Or even hides that fact when he's trying to get elected for stuff.
I heard him speak at a Mitt Romney rally in New Hampshire about six months ago - he's a slimebag pure and simple. The end game is a return of feudalism to western society, and Christie is just a pawn working for the aristocrats.
I'm not saying this just because I'm jealous of anyone who is wealthy. If you work hard, you deserve to be compensated well. But the American dream is dying, the mobility up the social ladder is becoming less and less - because of people like Christie, Paul Ryan, every Republican and most Democrats. It's disgusting.
I am not the smartest guy out there, especially in terms of economics. I'll take Mark Provost's word for it. But, I know what's right and what's wrong. You shouldn't go run around and screw people who are just trying to make an honest living.
Thanks fer the read there, LD. Very informative. What absolutely makes my brain collapse in on itself like a star becomin' a black hole though is that even when you present these facts (and others) to folks they can and will continue to burry their head in the sand, stick their fingers in their ears, and continue to believe that these broken policies and laws will work.
I'm not wealthy by any means, and my family was always on the side of the lower middle class. Now every year I wonder which side of the poverty line I'll end up on. But you could bet your ass that if I somehow made it into that 1% of Americans (or hell, let's low ball it to the top 20%) I would be more than happy to pay more in taxes to help people who are in need and to help pay fer my damn country to be great again.
My father is willfully ignorant. No matter how much horrible stuff you say about Republicans, I'm just lying and repeating some brainwashing propoganda. Mitt Romney was a good governor of Mass. and a great businessman should be president.
