Corzine paying down the debt? Not yet.

In Newsday.com, this article entitled

NJ takes next step in reducing debt

would make one believe that the state has done something significant. If you believed that, you would be wrong.

Less than two months after creating a special fund to pay down state debt, the Corzine administration has taken a significant next step: identifying the bonds that will be paid off early.

Yes. It took state workers two entire months to identify what bonds to retire early. Given that the source of this news if the clearly biased AP, one wonders if this is not just a Democrat fund raising stunt. Look for Corzine to make a commercial out of it soon. But, the joke is, he hasn't done anything. And he decided to keep your hard earned money to pretend to do it.

Gov. Jon S. Corzine created the fund in June, setting aside $684 million in unexpected tax revenue and other savings. Most of the money _ $650 million _ is being used to reduce the state's crushing $32 billion debt load. The rest will go toward other pressing needs, such as improving state prisons and psychiatric hospitals, the administration said.

As I have noted here before, this is OUR tax money. And instead of paying it back, he and his cronies in the legislature kept it to fund additional spending and try to cover up the increase in debt incurred by this and our former DEMOCRAT governor.

The sad thing is that when Corzine runs his commercials in his re-election campaign, he will not mention what he really did.

Republicans commended the concept, but said Democrats' approval to borrow $3.9 billion for court-ordered school construction would erase any gains.

Sen. Leonard Lance, R-Hunterdon, estimated that the new school borrowing would cost $6.82 billion once interest and other costs were included. He has long advocated a plan to subject all state borrowing to voter approval.

Write the check Governor. We are watching.

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