The sorry economic state of New Jersey somehow gets sorrier– from Red Generation:
The Rutgers Economic Advisory Service released a very unnerving report last week. Only 34,600 jobs were added in New Jersey in 2006. This represents a growth rate of just 0.9%, which is a full half point slower than that of the Nation whose employment based increased by 1.4%. Further compounding this problem is the fact that nearly a quarter of the new jobs in New Jersey were created in the public sector. This is especially troubling considering the size of the already bloated State Budget.
The 9,000 jobs that were added to the state payroll should actually be considered a negative; with the insanely sweet pension, benefits, and generous salaries these employees will garner, they are a net loss to the state, costing far more than any tax revenue they might generate.
And how many of the remaining 25,000 jobs were in the “service industry” ? On average, every three $36,000- jobs that leaves New Jersey are replaced by two $23,000- jobs. How can you sustain an economy based upon expelling the highest earners?
And what do you think that does to the housing market in New Jersey, where most of the middle class has their monies invested? With no one earning enough to afford anything more than next month’s rent, home valuations will soon plummet, property taxation will need to rise in order to cover loss of income due to foreclosures and bankruptcies, and the rape of the middle class by New Jersey Democrats will continue apace….
Republican State Senator Kyrillos, who actually has a clue about the serious trouble we are in, speaks out:
“This bleak report should send a chill down the spine of everyone in New Jersey...The report states that “The New Jersey economy has stalled; our growth rate right now is a third to a half of the national rate.” The past five years of anti-business polices have been bad for New Jersey’s economy. The report continues that the current rate of job creation “may well be a chronic condition.”
And what is Jon Corzine doing to rectify this horrific downward spiral? Why, he’s harassing and threatening companies that do business in New Jersey for failing to comply with his extreme left-wing social agenda:
Gov. Jon Corzine urged the international shipping company United Parcel Service yesterday to recognize New Jersey's new civil union law and provide health benefits to employees' partners or risk violating the law.
The letter follows a story in the July 8 edition of The Star-Ledger reporting UPS had denied a Toms River employee's partner health coverage because state law does not describe same-sex couples as "married." The company pays benefits to same-sex partners in Massachusetts, where it is legal for gay couples to marry.
UPS spokesman Norman Black said Eskew had "no ability to comment on the letter because the Governor's office decided to release it to the press" before it was sent to the company's Atlanta headquarters.
We are drowning, drowning, and Jon Corzine is adding more water to the tub while forcing our heads under as we struggle for air....when he’s left with nothing but a state full of illegal immigrants, state employees, and radicalized homosexuals, who will he have left to pay their bills?