http://www.planbeconomics.com/2010/03/05/new-jersey-gov-christie-on-state-budget/ Economics, investing, finance, energy, society Wed, 08 Feb 2012 04:12:00 +0000 hourly 1 http://wordpress.org/?v=3.1.2 http://www.planbeconomics.com/2010/03/05/new-jersey-gov-christie-on-state-budget/comment-page-1/#comment-42 Plan B Economics Mon, 08 Mar 2010 00:16:26 +0000 http://www.planbeconomics.com/?p=1039#comment-42 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). 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).

]]> http://www.planbeconomics.com/2010/03/05/new-jersey-gov-christie-on-state-budget/comment-page-1/#comment-37 Denise Brown Fri, 05 Mar 2010 18:02:20 +0000 http://www.planbeconomics.com/?p=1039#comment-37 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. 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.

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