Friday, August 24, 2007
What else is monetization promised for?
So I was under the assumption that the whole idea of asset monetization was for Corzine to be able to pay down New Jersey's enormous debt. It turns out that Corzine has another idea on how to spend the money that will come in to Trenton due to higher tolls; to cover the costs of spending programs.
According to the Star-Ledger, Corzine "...hinted to reporters after the ceremonial ribbon cutting that if the state is to continue financing such projects (the new Catto Elementary school in Camden) it will need to find new sources of revenue, such as raising tolls."
Corzine's equation: More schools equals higher tolls
Here's the sketch: