Vote “NO” On New Jersey Ballot Question #1
Public Question #1 – VOTERS TO APPROVE STATE AUTHORITY BONDS PAYABLE FROM STATE APPROPRIATIONS
Steve Lonegan, State Director of Americans for Prosperity, explains:
Ballot Question One is misleading and dangerous for property taxpayers. Many of us hoped this referendum would put an end to the runaway borrowing that has plagued the state. While this question appears, on its surface, to stop unconstitutional borrowing, the legislation gives additional power to the legislature to place even more responsibility on every property taxpayer. It is a fraud. Here’s why:
The devil is in the fine print of Senate Concurrent Resolution #39 which will replace our current constitution if State Ballot Question #1 is approved.
First, voter approval will NOT be needed if a proposed project has “an independent non-State source of revenue” or “a source of revenue otherwise required to be appropriated pursuant to another provision of this Constitution”.
Any Enron accountant or Abbott lawyer can drive a truck through those loopholes.
But here is the real kicker: “No voter approval shall be required . . . authorizing the creation of . . . debts . . . for the refinancing of all or a portion of any outstanding debts or liabilities of . . . an autonomous public corporate entity.”
Our Supreme Court ruled that New Jersey voters don’t have to pay a dime on any of the $29 billion previously borrowed by shell entities like the EDA-unless they vote to do it. But with a “Yes” vote on Ballot Question #1, Governor Corzine and the State Legislature could pass a simple law to refinance every dollar of the $37 billion borrowed by state authorities WITHOUT voter approval! Then, every “unenforceable” contract to pay $3 billion a year will become enforceable for the first time-WITHOUT voter approval-for the next 30 years.
Once the full faith and credit of New Jersey is pledged, all state sales tax money is earmarked to pay that debt before it is spent on anything else. And if that money is not enough, the State is legally obligated to adopt a new statewide property tax to pay the difference.
Don’t be fooled. Vote No on State Ballot Question #1.
November 2nd, 2008 at 10:38 pm
NJ Guy’s last blog post..Sea Isle City in the Fall
November 3rd, 2008 at 6:08 pm
November 3rd, 2008 at 7:00 pm
November 3rd, 2008 at 8:21 pm
I’m still confused about #1 but I’m persuaded by the alarming deductions above. The Trenton Times editorial urged voting Yes on this question. I also agree that the writing is just awful, and, as a college professor, I’m no idiot. If it fails, and if these public questions have to be written in a single sentence, then that law should be changed!
November 4th, 2008 at 9:11 am
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November 4th, 2008 at 10:06 am
#1 seems obviously NO, not because of the reasons stated by your article, but because it would imply that voters understand the pros/cons of each project and decide which ones are worth the debt — something that I doubt even our legislators would know. Only on obvious or highly publicized issues would people be informed enough to make the right choice. Seems like a perfect way to create a gridlock for necessary projects.
#2, Found an article by League of Women Voters which explained the question better, but I still don’t understand the downside of the current system, so I’m voting NO.
November 4th, 2008 at 12:04 pm
November 18th, 2008 at 7:42 am
Evidently the voters don’t want to make the decisions on how large spending is done.
I did vote NO.
November 18th, 2008 at 7:28 pm
November 18th, 2008 at 11:28 pm
I spoke to friends that live within our state, and told them to vote no on that bill. They all did, but sooo many people obviously didn’t get the message.
Instead of listening to NJ 101.5 every once in a while, I guess they always listen to that dork Howard Stern.