Monday, July 30, 2007
Is Monetization dead?
Is "Monetization" dead? Probably not. Corzine hasn't released any details of his plan yet, and has said he won't consider doing so until after the November elections.
But is "Monetization" in danger of being dead politically? Yes.
Corzine continues to claim that he doesn't have the plan nailed down yet, but he and Abelow have been working on this thing for quite some time, so they must have some working knowledge of the plan they'd like to put forward. If they don't, what have they been working on all this time? Maybe they have a plan like the one recently put forward for the Lincoln Tunnel; pay $30 for a fast-lane past traffic that can zip you into the city in no time! Would you pay $30 to bypass Exit 8 on the turnpike? How about $50 for a fast lane on the parkway from Toms River down to Atlantic City?
The possible saving grace for the governor; the spectre of raising taxes. A Monmouth University/Gannett poll released last Wednesday clearly showed that a majority of people would prefer monetization over higher taxes. Corzine could take the position that the choice for New Jerseyans would be higher taxes, or asset monetization.
Hooray!!! The government is safe!!! The spending may continue!!!
Here's the sketch: