Status Of State Economies: Gov Corzine on Face the Nation

Bob Schieffer spoke with New Jersey Gov. Jon Corzine, Indiana Gov. Mitch Daniels and Ohio Gov. Ted Strickland about the economic situations in their respected states.

Some interesting New Jersey budget numbers thrown out by Bob Schieffer while questioning Gov. Corzine about the impact of the current economic crisis was as follows; Expected sales tax revenue $ 8.5 billion (a shortfall of $653 million), State income tax shortfall of $1.45 billion, with a total drop of budget revenues of $2.8 billion expected.

Gov. Corzine said that revenues have dropped off by 8%-9% and he expects to take the economic stimulus money when made available from the federal government. He mentioned that he would use the money to help education, healthcare and infrastructure throughout the State. The Governor also mentioned that by taking the stimulus money offered by the President Obama, 100,000 jobs will be created or saved throughtout New Jersey.

Interestingly, Indiana (R) Gov. Mitch Daniels said that he will also take the stimulus money being offered by the Obama administration to invest it for later uses.

2 Comments

Filed under Bob Schieffer, Economic Stimulus Package, Face the Nation, Gov. Mitch Daniels, Gov. Ted Strickland, Gov.Jon Corzine, Indiana, New Jersey, Ohio, tax relief

2 responses to “Status Of State Economies: Gov Corzine on Face the Nation

  1. Aimless Writer

    Why doesn’t Corzine think of going to four day work weeks? Wouldn’t that save some bucks?

  2. Middletown Mike

    The jury is still out on the 4 day work week. I know that Hazlet is trying it but I haven’t heard if it is saving any money yet.Utah is the only State that has gone to a 4 day work week and it has had mixed results. So far the savings that they had thought would come have not totally materialized, probably due to energy costs declining.How has it worked out in Hazlet to date?

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