NEW YORK FED PRESIDENT MORE QUALIFIED THAN CORZINE
With last week?s announcement by President-elect Barack Obama that he has selected current New York Federal Reserve President Timothy Geithner to join his cabinet as Treasury Secretary, Assemblyman Vincent Polistina said he commended the pick which made more sense than if he had opted for New Jersey Governor Jon Corzine for that position.
?I am supportive of Mr. Geithner as the new Treasury Secretary,? stated Polistina. ?Mr. Geithner?s background, along with the credentials of the rest of the economic team, will hopefully lead our country on the road to recovery. It would have been a huge error if President-elect Obama had chosen Governor Corzine to be part of his financial group. Frankly, the governor?s tax, borrow and spend philosophy and his anti-business approach are not appealing items on his resume. New Jersey?s financial condition during his watch has deteriorated tremendously, and is evidence that he is not qualified to help lead our nation out of this recession.?
Governor Corzine is joining a group of governors today in Philadelphia who will meet with President-elect Obama and urge him to approve a $600 billion economic stimulus package. Reportedly, the funds would be used for infrastructure projects such as the construction of roadways, schools, and airports.
?Governor Corzine is very proficient at borrowing taxpayers? money,? continued Polistina. ?But unfortunately, his rhetoric never matches reality.?
Polistina noted that just last week the Governor?s rhetoric was that we must provide relief to New Jersey citizens, not overburden them with greater government obligations but the reality is that the Governor just began a new 2.5 percent mandated tax on all non-residential development, will be enacting a brand new payroll tax on employees in January and just raised tolls an average of 45% on the 3 major toll roads in the last 2 weeks. ?I hope that President-elect Obama and Treasury Secretary-elect Geithner understand that increasing any kind of tax during these tough economic times is a poor idea and I urge them not to take any advice from a governor who apparently doesn?t understand what greater government obligations are,? concluded Polistina.