Christie's Rosy Revenue Projections Are A Fraud

For Immediate Release:
Thursday,May 24, 2012

Still Pushing Tax Cuts to Multi-Millionaires While Lying About Revenue Projections Will Only Delay A Genuine Jersey Comeback

(NEW JERSEY) - The non-partisan Office of Legislative Services is warning that New Jersey is facing a whopping $1.3 billion tax revenue shortfall. These bleak numbers show the rosy revenue numbers Governor Chris Christie has been touting for the past several months have been self-serving, delusional and completely wrong.

Christie's administration now claims the revenue shortfall will "only" be a mere $676 million - which is akin to saying Snooki is just a little bit tan. Even with this newly-crafted, best-case scenario, Christie continues pushing income tax cuts for the wealthy in spite of the bad news. In fact, yesterday, the OLS's budget chief said an additional $900 million shortage could be tacked onto the already-stark numbers if revenue growth rate continues at its current clip.

Just as his "Jersey Comeback" has been undercut by reality and cold hard facts, Christie's revenue projections are inflated and unrealistic. Since the non-partisan OLS numbers don't match his stubborn attempts to cut taxes for the super-wealthy, Christie has once again resorted to name-calling and mean-spirited attacks. He's referred to OLS staff as "Dr. Kevorkian" and "hand maidens." Hopefully, his salty language won't fool anyone into ignoring the real issue. Namely, that Christie's rosy rhetoric fails to match reality.

Just as there is one set of rules for Chris Christie and one set of rules for everyone else, it seems there is also one set of revenue projections for Chris Christie and another for everyone else. Christie's delusional fairy tale flies in the face of facts that consistently prove tax cuts to the super-wealthy fail to create jobs, but instead merely create more wealth for the One Percent - many of whom are his campaign donors - to sit on.

Christie likes to say the debate now isn't whether to cut taxes or not, but which taxes to cut. Well... the question now isn't whether Christie's rosy revenue projections are off, but whether they are only insanely off by hundreds of millions like he now admits, or obscenely off by $1.3 billion, as OLS projects.

Christie wants to claim more money on the books, so he can bankroll unfair and unsustainable tax cuts benefiting the One Percent, while leaving the middle-class out in the cold. Yet, it is painfully clear that the state does not have the money needed to fund this scheme. And it is New Jersey's middle-class and municipalities who will be harmed if it comes to pass. By continuing to foolishly and blindly charge ahead and push tax cuts to multi-millionaires while lying about the numbers, Christie is simply delaying a genuine Jersey Comeback.

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