Torricelli on how he’s voting tomorrow

The State has a debt of over $30 billion. The annual deficit could reach another $3 billion and the unfunded liability of the State Pension is in excess of $27 Billion. Those aren’t numbers that argue for approving new bond issues.

There’s just one exception. State voters are being asked to approve a $200 million bond issue to continue buying open space. It’s part of the most successful state program, Green Acres, in the State’s history.

I’m voting forit because the logic is overwhelming. There’s a deep recession in the housing market. Developers are selling land that would otherwise be destroyed. The State is never going to have this opportunity again. Preserving open space is critical for our quality of life. If we buy it now, there arewilling sellers at a discount. If we wait a few years for the housing recession to end, we’ll be buying the same land at inflated values.

It’s that simple. I’m against more borrowing unless there’s a compelling case. The case for Question #3 is both compelling and financially logical.

Torricelli on how he’s voting tomorrow