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New Jersey Can’t Borrow Its Way Off This Fiscal Cliff

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Statement by Ralph Albert Thomas, CPA (DC), CGMA, CEO and Executive Director

New Jersey Society of Certified Public Accountants

ROSELAND NJ, We are deeply concerned that the proposed $9.9 billion borrowing plan announced by Governor Murphy and currently moving through the Legislature will have far-reaching consequences, affecting New Jersey’s ability to grow and attract business.

There is no doubt that New Jersey will require additional resources during this COVID-19 crisis. To address this, we need a comprehensive fiscal strategy that includes all tools at our disposal. Absent that, any plan for borrowing now is premature.

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Governors Borrowing Scheme Impending Fiscal Disaster

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the staff of the Ridgewood blog

 

Trenton NJ, Senator Declan O’Scanlon again sounded the alarm warning of the dire fiscal consequences of the Governor’s plan to borrow $10 billion to fill shortfalls in the State budget.

“This devastating scheme is fiscally indefensible and unconstitutional. There’s a legal opinion that says we cannot borrow without voter approval to fill a hole in our budget,” said O’Scanlon. “In the most unaffordable state in the nation, it is unfathomable the Governor and Democrats would propose a ‘solution’ of this magnitude.

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Murphy Administration Has Failed to Deliver on Infrastructure Improvements Promised by the “Gas Tax”

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the staff of the Ridgewood blog

Morristown NJ,  As many of us are driving more lately, some utilizing public transportation again and some fortunate residents are just returning to work, observations regarding the continued state of disrepair of many roads and bridges in New Jersey have resurfaced. Along with those observations comes some questions the Garden StateInitiative (GSI) believes the public should be asking of our leaders in Trenton. What should we have expected to get from our Gas Tax money? And why would we keep paying more until we see better results?

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Murphy Administration continues to struggle with fulfilling the unemployment claims

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the staff of the Ridgewood blog

Trenton NJ,  According to reports over the weekend, the Murphy Administration continues to struggle with fulfilling the unemployment claims of suffering New Jersey residents. Legislators continue to grow frustrated with the lack of communication with Murphy’s staff at the Department of Labor.

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Monmouth County Freeholder Director Arnone On ‘Freeholder’ Title Change: ‘Now Is Not The Time For Grandstanding’

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the staff of the Ridgewood blog

FREEHOLD NJ, Monmouth County Freeholder Director Thomas A. Arnone  released the following statement regarding the announcement that New Jersey will be phasing out the title “Freeholder.”

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In the middle of a Pandemic ,the State Budget facing a $10 billion hole, unemployment and MVC in disarray, businesses going under and Governor Murphy has decided to focus on changing the name freeholder?

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the staff of the Ridgewood blog

Middletown NJ,  Assemblyman Gerry Scharfenberger (Monmouth – R) criticizes recent remarks by New Jersey’s Governor as he targets the title of “Freeholder” in a feigned attempt to steer attention away from the immeasurable issues facing the State, its residents and economy:

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Senate Republican Budget Members Call Democrats’ $10 Billion Borrowing Scheme , “Wacko”

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the staff of the Ridgewood blog

Trenton NJ, Statements from Senate Republican Budget Members on Democrats’ $10 Billion Borrowing Scheme

The Republican members of the Senate Budget & Appropriations Committee issued the following statements in response to a private, partisan agreement between Governor Phil Murphy and Democrat legislative leaders to borrow $10 billion to fund State spending next year.

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Congressman Van Drew Blasts NJMVC Nightmare

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the staff of the Ridgewood blog

Mays Landing NJ,Congressman Van Drew voiced his extreme concern with the process of reopening Motor Vehicle Commission (MVC) facilities. Lines at almost every location were backed up to enormous levels, with some people waiting in line all day and still not receiving help. In some cases, law enforcement had to step in to assist in the process.

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Simply Solutions to Long MVC Lines that Murphy Can Implement Immediately

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the staff of the Ridgewood blog

Trenton NJ, Senator Anthony M. Bucco and Assembly Republican Leader Jon Bramnick offered a series of concrete solutions that Governor Phil Murphy could implement immediately to help remedy the chaos that has followed the Motor Vehicle Commission’s disastrous reopening.

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Thank Governor Murphy For Your Long Wait at New Jersey Motor Vehicle Commission

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the staff of the Ridgewood blog

Trenton NJ, Senator Michael Doherty released the following statement in response to the blatant failures of the Murphy administration as it neglected to adequately prepare for the reopening of the New Jersey Motor Vehicle Commission (MVC) that had been shut down since March due the COVID-19 lockdown:

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It’s Official Governor Murphy Signs Executive Order Requiring Individuals to Wear Masks in Outdoor Public Spaces

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the staff of the Ridgewood blog

Trenton NJ,  Governor Phil Murphy today signed Executive Order No. 163, which requires individuals to wear face coverings in outdoor public spaces when it is not practicable to socially distance and keep a six-foot distance from others, excluding immediate family members, caretakers, household members, or romantic partners, except where doing so would inhibit that individual’s health, where the individual is under two years of age, or in situations where individuals cannot feasibly wear a face covering, such as when eating or drinking at outdoor dining areas.

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New Jersey Is the State with the 4th Most Coronavirus Restrictions

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the staff of the Ridgewood blog

Trenton NJ, With some states pausing their reopening processes due to spikes in COVID-19, the personal-finance website WalletHub today released updated rankings for the States with the Fewest Coronavirus Restrictions, as well as accompanying videos and audio files.

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NJ Police Unions May Have Reached a Tipping Point With Governor Murphy

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the staff of the Ridgewood blog
Ridgewood NJ, after years of endorsing Democrat candidates New Jersey Police Unions may have hit a tipping point . Governor Phil Murphy today signed three pieces of legislation that make various reforms to New Jersey’s criminal justice system. The bills will ensure personnel files of law enforcement officers are shared when applying for employment at other agencies, accelerate juvenile justice reforms, and expand critical re-entry benefits.

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Reader Says Governor is killing, “the golden egg-laying goose of small business”

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“The Fireplace’s reputation for quality and value was earned through decades of commitment and hard work. Work that obviously was not just about the money. And Murphy’s reward and recognition of this consists of a profound disrespect for Everyman and the thankless sweat he’s put in day in and day out to make a life for his family.

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NJ Business Coalition Says Governors Reversal on Indoor Dinning Unfairly Hurts Restaurant Owners

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the staff of the Ridgewood blog

Ridgewood NJ, The New Jersey Business Coalition, a group of more than 100 leading business and nonprofit groups throughout the state, issued the following statement following Gov. Phil Murphy’s signing of Executive Order 158, temporarily pausing the resumption of indoor dining in New Jersey.

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