NJ Fiscal Folly

Friday, March 24, 2006

You're Going To Love This

How Liberals Go Broke (Part 2)

Is Corzine sleazy, or just incompetent?

In July 2005, Gov Codey signed a bill that expanded the NJ FamilyCare program (S2236 / A3724). When I researched this bill, I came across some very interesting information.

The Office of Legislative Services (OLS), which provides professional, nonpartisan staff support services to the NJ Legislature, analyzed various costs related to the NJ FamilyCare program (go to page 6 of this June 2005 Senate Budget Committee report). The OLS found that the state spends $113 per month for each child in the program. For every additional 10,000 children, the gross annual cost (paid with both state and Federal funds) would be $13.6 million. Thus, the cost of an additional 50,000 children would be $68 million per year, not $14.3 million as Corzine claims in his proposed budget.

Let's see, off by over $50 million. So much for the Wall Street wizard. So much for Corzine's credibility.

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