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Christie to Greenwald: We Can’t Spend What We Do Not Have!

June 18, 2010

Corzine & Lou: Perfect Together

 Chalk it up to Lou Greenwald being … well … Lou Greenwald.   

The New Jersey Assembly  passed a $100 million home-buyer tax credit program.  Under bill (A1678), home buyers would get the lesser of $15,000 in tax credits (over three years) or 5 percent of their homes’ purchase price.  Sounds like a great idea with one small problem. ……. Paying for it.   

Governor Christie’s spokesperson told NJ.com ,

“… we simply don’t have the money to spare for the tax credit …”.   

That caused Lou Greenwald to be well …. “dumbfounded”.  I can imagin the Assembly Budget Chairman being “dumbfounded” about paying for $100 million dollar government program.  When Jon Corzine was governor did the Assembly Budget Chairman ever have to worry about the cost of any government program?   

Christie’s press secretary Michael Drewniak described his understanding of  “dumbfounding”;  

“In our six months in Trenton, we have heard from Assemblyman Greenwald either his eagerness to spend and restore funding or his unrelenting criticism of budget cuts, as though there is no $11 billion deficit. Now that is dumbfounding!”  

As always, the devil is in the detail.  Under (A1678), three-quarters of the proposed $100 million ($75 million) would be set aside for  construction of new homes.  While the buying and selling of home in New Jersey is good for the economy only the building of new homes helps municipal engineering firms.   Lou Greenwald is General Counsel to a Haddonfield municipal engineering firm.  

Hmmmm….  must be a coincidence.

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2 Comments leave one →
  1. Matthew permalink
    June 20, 2010 1:20 pm

    Time to show ole Lou the door!!!

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