NJ Fiscal Folly

Tuesday, February 28, 2006

Fool's Paradise

Testifying yesterday in Trenton, Acting Transportation Commissioner Kris Kolluri made the following statement about Corzine's stopgap transportation proposal, which includes new borrowing:

"What this five-year plan does, it doesn't take away the ability of the Legislature and the governor to meet to decide what the long-term fix is. What that revenue fix is, folks like you will have to decide."

First of all, the ability to fix a problem isn't helped by deliberately and rashly making the problem worse. When you find yourself in a hole, stop digging. When you find yourself insolvent, stop creating new liabilities.

Second, Kolluri basically takes the position that transportation spending and funding is totally isolated from any other decisions about NJ spending and funding. This is a world without resource constraints, priorities, or tradeoffs, a politician's paradise. Unfortunately for Corzine and Kolluri, NJ residents are smart enough to know that "revenue fix" is not the road to paradise.

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