By Paul Krugman - Here's the story: For some time now Mr. Christie has been touting what he calls the "Jersey comeback." Even before his latest outburst, it was hard to see what he was talking about: yes, there have been some job gains in the McMansion State since Mr. Christie took office, but they have lagged gains both in the nation as a whole and in New York and Connecticut, the obvious points of comparison.
Yet Mr. Christie has been adamant that New Jersey is on the way back, and that this makes room for, you guessed it, tax cuts that would disproportionately benefit the wealthy.
Last week reality hit: David Rosen, the state's independent, nonpartisan budget analyst, told legislators that the state faces a $1.3 billion shortfall. How did the governor respond?
First, by attacking the messenger. According to Mr. Christie, Mr. Rosen — a veteran public servant whose office usually makes more accurate budget forecasts than the state's governor — is "the Dr. Kevorkian of the numbers." Civility!
By the way, even Mr. Christie's own officials are predicting a major budget shortfall, just not quite as big. And the two big credit-rating agencies, Moody's and Standard & Poor's, have recently issued warnings about New Jersey's budget situation, which S.& P. called "structurally unbalanced" because of the governor's optimistic revenue assumptions.
New Jersey, then, is still in dire fiscal shape. So is our tough-talking governor willing to reconsider his pet tax cut? Fuhgeddaboudit. Instead, he wants to fill the hole with one-shot budget gimmicks, including reneging on a promise to reduce borrowing for transportation investment and diverting funds from clean-energy programs. So much for fiscal responsibility.
Will Mr. Christie's budget temper tantrum end speculation that he might become Mr. Romney's running mate? I have no idea. But it really doesn't matter: whoever Mr. Romney picks, he or she will cheerfully go along with the budget-busting, reverse Robin Hood policies that you know are coming if the former governor wins.
keyboard shortcuts: V vote up article J next comment K previous comment