>Gov. Jon Corzine insisted yesterday his office had nothing to do with the arrest of conservative activist Steve Lonegan at a town hall meeting in Cape May County, even though the mayor of Middle Township said local police acted at the direction of the governor’s staff. “All I know is they were doing what they were told to do,” Mayor F. Nathan Doughty, a Democrat, said. Asked who had told them what to do, he said, “The governor’s people.” Corzine was adamant in rejecting Doughty’s claim about Saturday’s arrest at Middle Township High School. Lonegan was arrested moments before the start of the town meeting at which the governor was to explain his plan to increase tolls on the state’s major highways. (Howlett and Margolin, Star-Ledger)
Senate Minority Leader Thomas Kean, Jr. wants the state Attorney General to investigate the possible violation of Steve Lonegans first amendment rights. Lonegan, a former Bogota Mayor and possible 2009 candidate for Governor, was arrested on Sunday outside Middle Township High School where Gov. Jon Corzine was holding a town meeting. (Editor, PolitickerNJ.com)
“After a couple days of silence on the subject, Middle Township’s finest released a statement Monday saying Lonegan and a fellow protester were arrested for trespassing because they “attempted to enter the facility carrying signs … in violation of a posted school policy.”
However, video of the incident appears to contradict the police account. It shows a policeman telling Lonegan to remove signs from school grounds entirely. After Lonegan calmly refuses, the police handcuff him and put him in the back of a cruiser.”(The Record of Bergen County)
The “Asset Monetization” Questions the Governor Doesn’t Want To Answer
Question: Will you be borrowing more than $4 billion dollars to cover principle and interest on the $38 billion you want to borrow, until after the 2009 election?
Answer: Governor Corzine wants to bond $38 billion (the largest borrowing scheme by any state) as early as this June. Bond holders will expect interest starting immediately. However, the governor is delaying the toll increases necessary to pay this debt for two years, or until after the election in 2009. To cover this cost, he will borrow approximately $4 billion as part of the $38 billion. Toll payers will pay for this political ploy for seventy five years into the future.
This is called “capitalized interest” and would be acceptable practice if the money was being borrowed to build a needed road that did not exist and tolls would not come until after it was built. Governor Corzine recognizes the political and economic impact and is borrowing this huge sum to delay the increases until after the election.
Question: Will you be using $16 billion of this new debt to reduce the state’s existing debt from $33 billion to $16 billion? Isn’t this borrowing Peter to pay Paul? Will you guarantee taxpayers the current state debt will be cut in half?
Answer: The Governor is not telling the taxpayers that he is poised to bond another $11 billion in state debt over the next year or so!. Section D3 of the State Debt Report illustrates the Governor’s intention to issue this debt that is “Authorized but not yet paid.” The State’s actual debt will jump more than $11 billion while the Governor is bonding his $38 billion in Toll Debt.
Question: How will the state save money by paying down some of its existing debt with new debt?
Answer: We won’t. The Governor will be paying off shorter term, lower interest bonds with longer term (75 year) higher interest bonds. This is equivalent to refinancing your home by replacing a twenty five year mortgage at 4% with a seventy five year mortgage at 7% and just putting your debts off to the next two generations.
