Murphy wants to borrow money and give it away. The trap… ?


Let’s say you are dying to have a car for your birthday. Your parents agree to give you one.

What if your parents then took out a loan to buy you the car, but then forced you to repay the loan?

Well I think that’s what Republicans think Gov. Phil Murphy is trying to do with his latest plan.

New Jersey law allows the state to borrow money for budget deficits caused by the COVID-19 shutdown. For obvious reasons, Republicans are against this law and even sued to get rid of it but lost when the state Supreme Court sided with Murphy. Murphy was therefore given the green light to borrow $ 4 billion and could borrow nearly $ 6 billion more, depending on budget deficits due to the pandemic.

Meanwhile, he is planning heavy government spending on his slanderous “Baby Bonds” program to buy savings bonds for newborns. Republicans say it would cost the state $ 16 billion – a lot to ask for when we are already taking on so much debt.

You may ask yourself, “Who is going to have to pay back all this money?” Well, who do you think?

Murphy wants to give free money to children

According to an article on NewJerseyGlobe.com, Republicans believe that Murphy, a diehard borrower, is deliberately borrowing too much money in order to “pull” money out so he can present the budget as robust when it comes time to re-election. That way, while he runs for re-election, he can feel good about not having to raise taxes. He will already have intelligently put away the billions he borrowed, if he gets what he wants, according to the theory.

But, the article says, Republicans are not falling for the trap. State Senator Mike Testa (R-Vineland) maintains that none of the money Murphy seeks to borrow will actually go to COVID-19 relief.

“It has to do with saving money for next year’s budget so that he can play the role of Santa Claus as he runs for re-election,” says Testa.

I don’t let the governor pass to pull a trick like this. Do you?

The above post reflects the thoughts and observations of New Jersey 101.5 talk show host Judi Franco. All opinions expressed are those of Judi.

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