by Mac Slavo, SHTF Plan:
In an attempt to shield those living in the Garden state from the problems their government created, the governor, Chris Christie, has now signed an executive order issuing a “state of emergency.” As speculation grows that New Jersey will soon follow in Illinois’ footsteps, the government is proving forecasters correct by their inability to pass a constitutionally mandated budget.
Not only did New Jersy’s inability to pass a budget shut down the government (but not really. Don’t worry, you’ll still be taxed and welfare checks will still go out) but it scared Christie enough to sign a state of emergency executive order.
I have issued an Executive Order declaring a state of emergency to maintain the protection, safety & well-being of the people of NJ.
— Governor Christie (@GovChristie) July 1, 2017
New Jersey’s economic stability is in a dire state, and they appear to be continuing to make the same mistakes as Illinois. But according to nj.com, the conflict in the legislature and subsequent budget standstill is about the finances of not-for-profit Horizon Blue Cross/Blue Shield, the state’s largest health insurer. The state Senate passed a bill that allows the state government to control how much Horizon keeps in its surplus fund before it must contribute to a public health fund.
The government doesn’t seem to want to tackle to problems they created, they only seek to tighten the economic hold they have on companies and individuals through taxation and regulations. And the government never tries taxing less and spending less, they only want more power, which is funded by more theft, and control through entitlement programs.
“Tax rate increases, such as the ‘millionaires’ tax’ implemented in prior administrations, could bridge some of the gap, but may be politically challenging in this already high-tax state. Closing the entire $3.6 billion gap with revenue-side solutions alone appears unlikely,” analysts said. Gubernatorial candidates seeking to replace Gov. Chris Christie have proposed bringing back variations of the millionaire’s tax. But the size of the future deficit is so large, Moody’s said, “it unlikely that a sufficient tax increase would be politically feasible.” Finding enough cuts, too, would be “highly challenging,” the agency said, adding even slashing employee health benefits would fall short in the long term. –NJ.com