the staff of the Ridgewood blog
Trenton NJ, Gov. Phil Murphy painted a dire outlook for New Jersey public worker jobs on Saturday afternoon, pleading for more financial aid to lift a state economy that has been cratered by the coronavirus. Gov. Phil Murphy said, “We will have layoffs that will be historic”
As previously reported on the Ridgewood blog warned in early April .” according Jersey City Mayor Steven M. Fulop announcing the first steps to confront the $70 million budget impact COVID-19 will have on the municipal budget of Jersey City.” Then we asked,” where is the tax money going to come from if nobody is working? ” https://theridgewoodblog.net/where-is-the-tax-money-going-to-come-from-if-nobody-is-working/
On Friday we reported that ,”New Jersey’s tax revenues are “falling off the cliff,” Gov. Phil Murphy said at a Wednesday press briefing on the coronavirus pandemic.But it’s not yet clear exactly how far they’ve plunged.The state Department of Treasury released a new monthly revenue update Wednesday that, while a report on March revenues, actually is a reflection of February activity.”
“And worse yet in another ominous sign for the New Jersey Pension Funds, Trenton, revenue for the state lottery for the nine months ended March 31 was $707.8 million, down 12.1% from the $805.3 million year-ago period, according to the state Department of the Treasury” https://theridgewoodblog.net/time-for-new-jersey-to-start-laying-off-school-teachers-and-other-nonessential-state-and-municipal-employees/
Apparently the governor is starting to catch on.
The fiscal house of cards is falling.
a lot of big mouths are going to get screwed
this state is f@cked
The chickens have come home to roost. All furloughed public workers should be drawing from their unused paid days off accounts, before they get unemployment. Because after all, that is what it is there for, not a windfall payout at retirement.
Sounds like you don’t like teachers Bieber
Let the overpaid public Union employees get in line for unemployment like everyone else.
Lottery revenues are down bc the odds suck, that’s why I play in pa
10% of the entire population of NJ – 1/5 of every participant in the state’s labor force – is a public sector employee or retiree.
If you want to talk about what makes sense or not, that is government overreaching and does not make sense… it’s defrauding taxpayers. Call it the “deep state” if that’s more palatable for you to consume.
Thankfully these pension & healthcare pigs will run out of money shortly as NJ state pension assets are $70bn versus >$10billion per year in defined benefit pension checks and PAYGO “platinum” healthcare. The unions pigged out with their “bad faith” CBA negotiations And excessive benefits…
Stealing from taxpayers is against our rights & freedoms, right? Boston tea party anyone? Good luck to them in insolvency court! Money doesn’t grow on trees in the states and municipalities.
Stop giving the police and fire all this overtime it’s ridiculous. My experience dealing with budgets throughout the east coast always amazes me how police and fire have crept up All that overtime. It’s ridiculous. And no it’s not jealousy please stop the bullshit. It needs to be controlled. Especially when you’re doing your side jobs at $100 an hour at construction sites Wayover priced. There’s no reason why contractors can I or professional flagman that actually stand in traffic in all weather conditions. Please stop, everyone sees what’s going on. Do you want to cut the fat start there.
Question: if we don’t have to pay our property taxes until August 1st, how will these teachers & municipal workers get paid?
Cut the low tier employees first they do nothing but stand around hold up shovels.
The government.
The garage in town should be tarped
And sold to the highest bidder with some 30 year rev sharing with VOR Over and above purchaset taking on 70 percent of the cost of the bonds
Town will take a bath for 5 plus years
Would it be cheaper to sell it highest bidder at 80 cents on the dollar of outstanding debt load to the town ?
Likely have to abate taxes for 15 years
Banks would go crazy but who cares
Its going to loose a shedload for 50 years anyway
We should cut our losses VC
Ps
Garage was a scam for the apartment
Cretins lol ., very sad in fact
The problem is in the Board of Education way too many assistance.