July 17 (Bloomberg) -- New Jersey Governor Jon Corzine said in November he was willing to lose his job if that's what it took to cut the state's $32 billion debt load. Now, the former Wall Street bond trader says more borrowing is inevitable. ``It may be possible that we need to grow debt if there are capital projects we have to do and we don't have any other way to fund them,'' Corzine, a first-term Democrat who is starting his re-election campaign, said in an interview.
Incredible! People ask.....politicians give...even if the ultimate outcome is borrowing and bankruptcy.
We should have the courage, and the wisdom, to tell our politicians to stop borrowing because we just cannot afford the grandiose projects we would like to have, but we cannot afford.
Borrowing is our road to oblivion! I just cannot understand why we accept this state of affairs.
More, much more when you subscribe to The Peter Dag Portfolio on https://www.peterdag.com/.
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
No comments:
Post a Comment