A Challenge to Governor Corzine.... Nov 22, 2008 10:36:00 GMT -5
Post by Michael on Nov 22, 2008 10:36:00 GMT -5
....made by Governor Hoffman from the Grave
The Cost of Stupidity
The World War and the Depression have cost every American, man, woman, and child, an average of twenty five hundred dollars each - TEN THOUSAND DOLLARS for the standard family of four persons.
There is the foundation of what is the trouble with us.
The average American family can not accumulate ten thousand dollars in one generation, even with the best of times. NEITHER CAN THE AVERAGE AMERICAN FAMILY LOSE TEN THOUSAND DOLLARS in the worst of times - and pay the loss.
Our national wealth at its peak was never much over three hundred billion dollars. In two periods of collective foolishness, we spent sums practically equal to our entire national wealth of all kinds, tangible and intangible.
True, out cities, our farms, our buildings, are still in existence, although most of them are showing wear and tear - but most of them do not belong to the people who owned them before this double-barrelled economic calamity began.
Statistics are little comfort to the family that has lost its home and its other possessions.
In the face of this gigantic loss, we have yielded control of our public affairs and of our taxing power to theorists who continue the loss.
A deficit can be defined as a public expenditure which is too big for the taxpayer to pay.
No amount of crocodile tears about human betterment can wash away the fact that there is no benefit for anyone which is worth the impoverishment of the majority of the people.
New Jersey has had its share of these losses. It continues to have its share of new losses. Its State Government is borrowing money to meet current deficits - expenditures too big to be paid out of what the taxpayer can pay - and many of its Counties and municipalities are also borrowing money to meet expenditures that are too big for their taxpayers to meet.
When I was Governor (and that was in years as bad as this one, if not worse) the State borrowed no money. It paid off twenty five million dollars of its public debt. It reduced its overall costs forty million dollars. It balanced its budget and had a surplus each of my three years.
The people of New Jersey deserve something better from government then deficits and individual bankruptcy.
The Governor of a State cannot control world wars or world panics. He can do battle to keep public expenditures within the means of the taxpayers, so that those taxpayers will have more of their earnings left for themselves and their families then they have now.
I want to fight that battle. I want to do everything that I can to bring the expenditures of the State Government within the means of the State's people. I want to do everything I can toward making sure that the taxpayer gets his money's worth and is not forced to pay for things he doesn't want and can't afford.
[Harold G. Hoffman - Campaign 1940]