We Promise Not To Use The Words "Lock Box"

The State Treasurer has just given the legislature somewhat-surprising news - the state now expects to take in about $533 million more in revenue that was originally anticipated. However, the news came with a signal from the Corzine Administration that we here at CIANJ applaud,

"As the governor has said since February, we are at a turning point," state Treasurer David Rousseau told the Senate Budget and Appropriations Committee. "The time has come for us, together, to say: no more."

The short term increase to the State Treasury does not eliminate New Jersey's long-term budgetary issues, such as debt, pension and benefit obligations and an expected decrease in tax receipts next year. The Governor's original budget message was one that began New Jersey on the road to fiscal sanity. Today's news does not change that, and does not lessen the imperative that the legislature deliver a budget that does not increase spending over last year.