http://www.cato-at-liberty.org/…

My misadventures in state government led me to coin a phrase for what has become the economic growth model of choice for a lot of governors: “Press Release Economics.” It comes in many shapes and sizes, but it basically boils down to the orchestrated PEZ-dispensing of taxpayer money on short-term “economic growth” schemes for crass political gain.

The most common form is probably the targeted tax break and/or corporate welfare grant/loan to incite a company to relocate within a state’s borders. Politicians love these taxpayer-financed giveaways because they come complete with lots of visible media coverage: press releases, newspaper articles, radio and television reports, and best of all…the photo op. Ah yes, that priceless picture of the governor all dressed up with a hard hat, ceremonial spade in hand, and a big toothy grin.

One would be hard pressed to find justification for these political endeavors in the economic literature, but then again the little Potemkins who run state “economic development” bureaucracies don’t have time to be bothered with trivialities when there are “jobs to create.”

Today I read that Gov. John Corzine has come up with a $150 million package to help the New Jersey economy. The concoction includes two peculiar items: money for banks to get them to lend and a $3,000 check to small businesses for each employee they hire and employ for a year. “Create a job and we will send you a $3,000 check,” Gov. Corzine says.

With regard to the first one, the New York Times reports:

James Silkensen, president of the New Jersey League of Community Bankers, said he had not heard complaints from his members about needing more cash. “Our members are telling us that they’ve got money to lend,” Mr. Silkensen said. “They aren’t going to change their underwriting standards. I can’t say every bank has sufficient funds to lend. But most I have talked to are lending, though they’re being careful.”

With regard to the second one, it’s pure press release economics. Why not $4,000 an employee? Or $5,000? Why just “small” businesses? Do “large” businesses contribute nothing to the New Jersey economy? How will this initiative be enforced? How much will it cost taxpayers for New Jersey bureaucrats to make sure each and every new hire was employed not less than 365 days? How many of the $3,000 check employees would have been hired anyhow? How many jobs will be lost because of the tax burden needed to pay for this scheme and others?

Here’s a better idea, Governor: propose serious tax and spending cuts. New Jersey’s general fund is up 40% from just five years ago, which amounts to a $1,000 per New Jersery citizen spending increase. At the same time, New Jersey’s business tax climate was recently found to be the worst of the fifty states.

Why would we expect Corzine to act any different than Hank Paulson?

I’m currently sitting in the IZOD center attending the 2008 Montclair State commencement. The 8th district congressman of NJ not only misnamed the school but spent nearly his whole speech telling us how he and the Congress is working to give them more and more stolen money to send people to school.

Another congressman said we should celebrate the fact that people are dying in the middle east to keep our “free country” free.

Jon Corzine is here… hasn’t spoken yet.

Update 1:
He was boo’ed when he was brought to the mic. Montclair has given a honorary doctorate in law. Argh. Part of his intro was how he’s bringing progressive government.

He’s talking about how great NJ education is. How great the teachers are that Montclair pumps out. He just incorrectly quoted Moore’s law saying it’s the doubling of computing power instead of transistor count.

Update 2:
There are quite a few state cops here. Even standing on the floor with the graduates and others watching the crowd intently.

Update 3:
I find it sad that they declare them graduates “with the power delegated by the state of NJ.” Their education only counts because it’s blessed by the State.

http://www.nj.com/…

Lawmakers intend Monday to unveil a long-awaited plan that would require all New Jersey residents to have health coverage within three years, and officials say it would be financed in part by converting the mammoth Horizon Blue Cross Blue Shield of New Jersey to a for-profit company.The proposal, which would make New Jersey only the fourth state in the nation with a universal health care law, could begin enrolling the state’s 1.4 million uninsured residents as early as August, its sponsors in the Legislature say.

“The right time to do this was a long time ago,” said Sen. Joseph Vitale (D-Middlesex), who has been crafting the plan with a health care think tank for 18 months. “I don’t think I have to sell it to the public. They more than understand the significance of health care and fear they will lose theirs if, God forbid, they get sick.”

To make the giant leap into creating a universal health care program, lawmakers are counting on a windfall — estimated at $1 billion to $2.5 billion — that would be generated by allowing Horizon Blue Cross Blue Shield to convert to a for-profit company, according to two officials familiar with the plan.

The officials, who did not want to be identified because details on the Horizon conversion were not finalized, said those items will not be part of the bill introduced Monday. They said this would be worked out at a later date, noting money from a Horizon deal wouldn’t be needed until the final stages of the phase-in.

State officials have been discussing a possible conversion of Horizon, which has 3.2 million members, for more than a decade. The conversion would require approval from Horizon officials and could face up to 15 months of red tape from state regulators.

Gov. Jon Corzine, who has repeatedly said he supports Vitale’s efforts and wants to enact a universal health care program, will not comment before the bill is introduced, according to his spokesman Jim Gardner.

Good luck with that. I’m sure the predictions will turn out just as well as they did in Massachusetts. After Corzine’s spending freeze how exactly do they plan on paying for this? I can tell you now that their for-profit Blue Cross Blue Shield plan won’t work. Taxpayers will end up covering this one way or another.

Just another reason to move out of this state.

http://campaignsandelections.com/…

Governor Jon S. Corzine today introduced the first piece of a comprehensive three part strategy to enhance public safety and combat violent street crime in the Garden State. The strategy addresses issues of enforcement, prevention and re-entry with an emphasis on reducing gang violence, violent crime and recidivism.

The strategy itself follows several fundamental principles. First, every component will use data and analysis to both identify problems and eliminate them. Second, the state will serve in a support role to help identify problems and assist communities in applying appropriate solutions. Third, involved parties must communicate fully with one another in the development, delivery and assessment of strategies and programs. Finally, all programs will be critically evaluated through data driven analysis and adjusted appropriately to ensure maximum effectiveness. The enforcement aspect of the plan, introduced today, will target and prosecute those who engage in gang violence and carry illegal weapons.

What an amazing strategy. Or not. Funny… it doesn’t attempt to address the cause… just a symptom. Why are their gangs? What brings the members together? Could it be prohibition of drugs? I’d bet it was. Would relegalizing those drugs cut off funding for the gangs? I bet it would. Could they be a ethnic gang going around mafia style screwing with people? Sure. I’ve not run across any evidence of that though. I’d think that would be something easy to deal with. I doubt they are talking about the Russian mafia here.

Regardless, I’m not seeing the logic behind this. “The use of guns can be decreased if shootings are investigated vigorously and quickly.” How is that? Stating that doesn’t make it true. The guns are illegally obtained. They aren’t marked. If the gang bangers thought they could be traced they’d just buy cheaper guns and leave them at the scene. The market will adapt to risk. Increasing cop presence will probably just push the crime elsewhere. If the demand still exists and the risk can be adverted their will be supply. The market adapts.

http://www.libertyforall.net/…

“Three young people with promising futures are slaughtered, and a fourth one brutally shot in the face by a gang of thugs that allegedly included an illegal alien, and all Gov. Corzine and Mayor Booker can do in response is come up with a multi-level scheme to punish law-abiding gun owners,” observed SAF founder Alan Gottlieb. “That’s not simply disappointing, it is reprehensible.

“If there was ever a more clear-cut illustration of the anti-gun mindset among liberal Democrats, I have not seen it,” he continued. “Corzine, Booker and others of their bent will blather all day and night about providing sanctuary to illegal aliens, and the need to crack down on street crime, but who do they invariably target for tough justice? Law-abiding gun owners who had nothing to do with this crime, or any other crime, and the worst part of it is, they know it.”

Among the proposals floated by Corzine and Booker are local ordinances requiring the registration of all firearms in Newark, and the establishment of so-called “gun courts.” Another proposal is to require gun owners, who are themselves victimized when a criminal steals their firearm, to report the gun theft immediately or be held responsible. Booker also wants to ban gun sales in residential areas or near schools, even though there are no licensed firearms dealers in the entire city.

“First Booker plans to spend millions on surveillance cameras so cops can watch crimes being committed, rather than prevent those crimes,” Gottlieb said, “and now he and Corzine want to punish gun owners who are unfortunate enough to become crime victims, themselves, probably as an alternative to actually catching burglars and other real criminals and putting them behind bars. This is not simply an insult to every law-abiding firearms owner in New Jersey, who must already have a license, it is also an insult to the memories of those three young murder victims.

I’ve commented on all these topics before. Cameras only move crime. If you want to stop crime you have to end the prohibition of some drugs, end the regressive tax systems, end the welfare state, end the laws which hold people down or allow them to make something of themselves. As for the gun theft law… it’s both conceptually and practically flawed and has been shown not to work. Even the enforcers (police) of similar laws in other jurisdictions have said it’s useless. The registration requirement would be a step closer to prohibition and makes it easier for government knocking on your door asking for your arms. It’s bad enough NJ requires a special permit just to be able to purchase a handgun.