The election of all 120 state legislators is a little more than two weeks away, but most voters haven't given them or the rest of the ballot much thought yet. Democrats, who have the upper hand in the Legislature and want to keep it, aren't talking much -- especially about promises of a more equitable way to distribute state school aid and about Gov. Jon Cor zine's asset monetization plan to ease the state's suffocating $33.7 billion debt. But discussion of New Jersey's precarious fiscal situation can't wait until after the election. It's right there on the Nov. 6 ballot.
Two major spending issues ask voters whether the state should go even deeper in debt. One would allow borrowing $450 million to fund stem cell research, while the second would okay borrowing another $200 million for open space programs. Before deciding on the merits of the questions, voters need to consider whether the state can afford to add $650 million to its already budget-crippling debt. This push to jack up the state's debt comes just weeks before Corzine is expected to unveil his long-time-coming asset monetization plan. The idea is to use state assets to raise money to reduce the state's staggering debt service payments, which come to nearly $2.7 billion in the current budget and are growing.
Right now, the $33.7 billion debt places New Jersey fourth on the list of states with the heaviest debt loads. It amounts to $3,317 for every man, woman and child -- a total that has tripled in 10 years. Obviously, something must be done to alleviate this fiscal fiasco. Corzine says his still-se cret asset monetization plan will do that. But how can you ask voters in the beginning of November to add another $650 million to the state's debt and then argue later that this debt is strangling the state and preventing implementation of much-needed programs? Perhaps this apparent contradiction would be easier to understand if voters could count on not being asked to approve another bond issue for a long time. But they can't. Voters' fears of profligate politicians are borne out by what happened with the stem cell program. Initially, the plan called for $100 million to construct a facility in New Brunswick, with another $50 million for equipment and technology. Then everybody wanted a piece. So lawmakers reverted to the Jersey solution. They agreed to spend $270 million -- out of the state budget -- on additional facilities in Belleville and Camden.
Now for the bond issue. The original proposal was for $230 million for research grants. It's up to $450 million after add- ons. The $200 million for preserv ing open space, improving parks and buying land to protect water resources is in tended to be a "bridge" loan -- until a more permanent source of funding can be identified. Corzine has suggested asset monetization could produce enough to cover future open space programs. If that's the case, why not wait a year? Making a case against preserving open spaces in the nation's most densely populated state is tough. Arguing against stem cell research while recognizing the hope it offers to millions is equally difficult. But New Jersey's taxpayers need to look at the numbers before walking into voting booths on Nov. 6.
October 25, 2007
Poll: Voters back stem cell fundingNew Jersey voters support borrowing $450 million for stem cell research, a poll released Thursday found
October 24, 2007
Corzine pushes for stem cell fundsGovernor Corzine urged New Jersey voters on Tuesday to approve a $450 million bond issue to fund research of all types of stem cells, including those from human embryos.
October 24, 2007
Corzine hails stem cell facilityGov. Jon S. Corzine on Tuesday marked the start of construction on what he hailed as a world-class research facility many hope will make the state a global leader in stem cell work.
October 23, 2007
Stem-cell ballot question fought
NEWARK -- An attorney on Monday compared stem-cell research with science fiction, arguing that New Jersey voters lack enough information to decide a $450 million bond question next month.
"People don't know what cloned human embryos are," Bertram P. Goltz Jr., representing the Legal Center for Defense of Life, told an appellate court. "It's 'Brave New World.' "
But opposing lawyers said the ballot's interpretive statement tells voters the facts about the proposed expenditure and should not be altered.
"The statement warns the taxpayers that the state will be taking on debt," said Larry Etzweiler, a senior deputy attorney general. "The voters read the [newspapers.] The voters know that bond issues have to be paid by someone."
At issue is whether the state should borrow $450 million to finance grants for stem-cell research, which scientists say holds potential to treat a number of devastating medical conditions, including leukemia, Parkinson's disease and paralysis. The state will ask voters to approve the expenditure in a ballot question Nov. 6.
Opponents say such research, which often involves human embryos, is morally reprehensible. They want a fuller explanation of the science to accompany the ballot question.
A lower court last month denied the plaintiff's request to stop the printing of the ballots and to put the issue before legislators, not the voting public. They appealed to the three-judge panel that heard arguments Monday.
Judge Edwin H. Stern said the panel will rule quickly, because the election is a scant two weeks away. Moreover, he said, he expected one side or the other to appeal to the state Supreme Court.
"We are not unaware of the fact that we are not the last stop," Stern said.