Posted on

Governor Murphy’s “Crazy Eddie” Borrowing Scheme

gov phil murphy nj generic 041518 1523813414516 5330616 ver1.0 640 3601

the staff of the Ridgewood blog

River Vale NJ, Assemblywomen Holly Schepisi ,”Only in New Jersey could we increase spending by BILLIONS, borrow BILLIONS in dollars because we allegedly can’t pay our increased spending, increase the gas tax during a pandemic to the fourth highest gas tax in the nation, cut programs like mental health services for at risk youth (a program that has been in place since the 1980s and has assisted children with mental health, employment, pregnancy prevention, drug abuse education and more) and then announce a program to give free cash starting next year to anyone who gives birth.
It is the equivalent of paying for your neighbor’s HULU account so they can watch Handmaid’s Tale while your own home is in foreclosure. The State of NJ is proposing to borrow money at a cost of $80 million in interest payments to the tax payers in this State in order to issue free “Baby Bonds” that will yield only a 1.35% return over 18 years or an approximate total of $21.6 million in interest. How does this make any sense whatsoever?”
Continue reading Governor Murphy’s “Crazy Eddie” Borrowing Scheme