Corzine’s False Jobs Claims
According to economists, the Governor’s claims that $4B in infrastructure projects would create anywhere from 40,000-120,000 new jobs in New Jersey are not correct (shock!). Apparently, the Governor and state Democrats were basing their estimates on a faulty premise.
Generally, these estimates are based on the premise that for every $1 billion spend by New Jersey on capital construction projects, between 11,000 and 35,000 jobs will be created.
“The only problem with this boast is that it is based on a distorted interpretation of a statement contained in a 2002 study by the federal Department of Transportation, which even the DOT has tried to correct,” explained Merkt.
The article goes on to point out that any jobs created by these projects would come at the expense of private sector jobs. In other words, this is a jobs transfer program, not jobs creation program.
In sum: No jobs. More debt. Sounds like a fitting slogan for the Corzine years.
