Whitman to blame for much of state's fiscal woes

It's interesting to see the comments made by citizens, legislative members of the same party and legislative members of the other party regarding the state's fiscal problem and how to handle it. Some of the suggestions sound nice but the value discussed doesn't rise anywhere near to the level that's required.

Former Gov.Whitman cut revenue and didn't cut expenses. To make up for the shortfall, former Gov. Whitman didn't make the pension and healthcare payments of all the government employees in the state for six years.

As if this wasn't bad enough, former Gov. Whitman raided the Transportation Trust Fund and pushed through a $3.2 billion bond issue that traded in the derivatives market as well so she could balance her budget. The state took a beating on the derivatives and using a capital fund for operating expenses is like using an equity loan for vacations. No surprise here but the Transportation Trust Fund is depleted.

I've heard a state senator say that Gov. Corzine's toll hike plan is like using one credit card to pay the debt of another credit card. The interesting thing is that corporations and individuals restructure debt all the time to obtain better rates and terms. Why can't the government?

I've heard a state senator from the other party say the state needs to cut spending. What a profound statement! Do we cut 10 percent from aid to municipalities for education, aid to counties and municipalities for grants, DYFS, state police, prisons, Medicare to hospitals, colleges, senior programs, disabled programs, the state children's health insurance program and transportation just to name a few? After listening to the ridiculous statements made by these legislators, it's no wonder there's a fiscal problem in this state.

Gov. Corzine's plan is disappointing because $14 billion of pension debt will remain and continue to increase at the same rate of approximately 8.25 percent each year. Then there's the matter of even distribution of the pain and it looks like some are carrying a greater burden than others. The counties hardest hit seem to be Republican (Monmouth, Ocean). It's called political expediency.

There seems to be some poetic justice in that the Republican legislators from these two counties overturned the law that required Gov. Whitman to make those payments and now their constituents may have to carry the heavier load.

Of course, Gov. Corzine didn't create the problem, but is it too much to ask for all the parties involved to come up with a solution that addresses the entire debt and spreads the pain equally?

Joseph Lamb Sr.

Brick