New Jersey governor, Chris Christie, gave a well-received speech to about 200 mayors from across the state. Christie presents a plain view of the budget crises facing many states today.
You know, at some point there has to be parity. There has to be parity between what is happening in the real world, and what is happening in the public sector world. The money does not grow on trees outside this building or outside your municipal building. It comes from the hard working people of our communities who are suffering and are hurting right now.
Well yes, there are limits to a “perception” driven economy. After listening to the “Ad Man” on the clip from TED, I began thinking what could be the tipping point between altering social/economic perceptions and the “emperors new clothes” syndrome.
Sometimes, no matter how optimistic, when your pockets are empty, they are just empty.
New Jersey is no different than most of the States, where when faced with the widening budget deficits, the administrations just continued to borrow from Peter to pay Paul. At some point, there has to be the courage to face the shortfalls, the inventivness (but not inventive number rearranging) to solve them, and the patience to see the it through.
The states show the true condition of the United States, in my opinion. Unlike at the Federal level, the States don’t have the tools to mask budget deficits (like money printing, seemingly infinite borrowing capacity).