Tuesday, April 7, 2009

IT'S TOUGH BEING THE TREASURER

The State’s revenue picture is bleak according to OLS Legislative Budget and Finance Officer, Dr. David Rosen. He tells members of the State Senate and the Assembly Budget Committees, "for fiscal year 2010, the Governor's budget anticipates a revenue decline of $339 million from fiscal year 2009- the OLS forecast is $223 million lower…so over the 2 years, OLS estimates $606 million less revenue than is assumed in the Governor's budget."

During testimony yesterday (4/7/09) a budget committee member mentioned to Rosen how tough it must be to be State Treasurer David Rousseau during these tough economic times. Rosen said, “Every morning I wake up grateful that I’m not the Treasurer.” Rosen probably really feels that way now because, also yesterday, Assemblyman Joe Malone asked Rousseau, “In your observation, do you feel New Jerseyans are overtaxed?” After a long pause, Rousseau responded, “No.”

Malone followed up by asking, “How do feel that the public feels about how they’re being taxed? Do you think the public feels they’re overtaxed?” Rousseau replied, “Oh, I think that anybody, everybody up there (on the committee) believes that they would like to pay lower taxes……..people would always like to pay less in taxes. We’d always like to pay less in taxes. We’d like to pay less for the car that we bought. We’d like to pay less for everything.”

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