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Sun 2 Jul, 2006 06:15 am
I understand that the State of New Jersey has not approved a budget for its new fiscal year (7/1/06 - 6/30/07).
I understand that the governor furloughed most of the state's employees.
Will the State save $x per day in wages foregone? Or will the State lose $x per day in tax/fee revenue foregone? Which number is larger?
The state is "saving" money through curtailing expenditure. As the "money saved" derives entirely from tax/fee revenue, and the taxes and fees continue to accrue even though not actively administrated, the only loss is to the state's prestige and its Democratic Party dominated government's credibility.
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