The way the Christie Administration sees it, revenues are only a bit slow amid an overall New Jersey economic comeback. State Treasurer Andrew Eristoff told the Assembly Budget Committee this afternoon he is estimating the shortfall for the remainder of fiscal 2012 and all of fiscal 2013 at $676 million, or about 2 percent of the budget.
This morning the non-partisan Office of Legislative Services delivered a more pessimistic estimate. OLS Chief Budget Officer David Rosen put the shortfall at $1.3 billion, double the Christie administration’s projected shortfall.
Speaking at a transportation conference in another part of Trenton, Gov. Christie went on a tirade against Rosen and accused him of being a tool of whatever party is in the majority. Democrats want to raise taxes, Christie said, and they’re manipulating Rosen to help justify it.
“The only thing that makes him shake more is the possibility that we might actually cut taxes,” Christie said. “This now is a desperate situation so they needed to call in the Dr. Kevorkian of the numbers. David Rosen, the Dr. Kevorkian from the partisan Office of Legislative Services.”
Christie said Rosen over-estimated revenues last year when Democrats wanted to spend more and is underestimating revenues now to support those Democrats lobbying for a millionaire’s tax hike.
“Why would anybody with a functioning brain believe this guy?” Christie asked. “How often do you have to be wrong to finally be dismissed?”
Christie is not budging from his plan to cut the income tax, despite the darkening revenue picture. And his attack on Rosen is likely to come up tomorrow when Rosen and Treasurer Eristoff repeat today’s presentations before the Senate’s budget committee.
NJ Today Senior Political Correspondent Michael Aron reports from Trenton.
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