New Jersey S&P rating downgraded

2/9/2011:

Garden State Credit Rating drops

Zero Hedge reported today that Standard & Poor’s downgraded New Jersey’s credit rating across the board:

“The lower rating reflects our concern regarding the stresses from the state’s poorly funded pension system, substantial postemployment benefit obligations, and above-average debt levels,” said Standard & Poor’s credit analyst Jeffrey Panger. The downgrade also reflects the application of Standard & Poor’s newly adopted criteria on U.S. states, which more transparently incorporates debt, pension, and other postemployment liabilities, along with other rating factors.”

One commenter on the site had a not-so-nice comment about NJ in general:

“My property taxes just went up 50%. I hate this state. Get me the f_ck out of here.

Weaknesses:

  1. Communist gun laws
  2. Highest property taxes in the country and still going up dramatically
  3. Communist unions who have a stranglehold on the state legislature
  4. Most business unfriendly state in the country
  5. Post looting by CFR globalist and Goldman Sachs scumbag John Corzine who in his infinite wisdom invested the state pension funds in the market at peak and sold at bottom in 3/09.

GRRRRRRRRRRRRRRRRRR”

What’s the next bit of bad news for us?

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7 Comments on "New Jersey S&P rating downgraded"

blaueaugen
Member
blaueaugen

The trough is running dry…

blahblahblah
Member
blahblahblah

BTW, your taxes will go up over the 2% cap despite his efforts. THAT IS A FACT. you just wait and see. You and I will both pay higher taxes because of his irresponsible legislation he puts forth.

blaueaugen
Member
blaueaugen

My facts are correct, NJ pays the highest property taxes in the nation and this state and it’s politicians are extermely corrupt. Just ask Pete Cammarano, who was nice enough to serve me beers on his last day of freedom at the St. Anne’s fest, which was also his birthday.[quote comment=”203244″]BTW, your taxes will go up over the 2% cap despite his efforts. THAT IS A FACT. you just wait and see. You and I will both pay higher taxes because of his irresponsible legislation he puts forth.[/quote]

blahblahblah
Member
blahblahblah

not in regards to NJ paying the highest property taxes. The other spontaneous utterances you made. [quote comment=”203245″]My facts are correct, NJ pays the highest property taxes in the nation and this state and it’s politicians are extermely corrupt. Just ask Pete Cammarano, who was nice enough to serve me beers on his last day of freedom at the St. Anne’s fest, which was also his birthday.[/quote]

homeworld
Member

SEC securities fraud charges due to how the state pillaged the public pension system doesn’t help, either.

blaueaugen
Member
blaueaugen

In my right mind, I can’t understand why anyone doesn’t like Chris Christie and what he’s trying to do in this state. Changing the status quo of our corrupt state and it’s politicians is a breath of fresh air. I mean, do people like paying the highest property taxes in the country? And for what? Funding these unions and phony commissions such as the PVSC? I believe more and more that the Sopranos was a documentary, and not fiction. I know people will comment on his “attack” on the teacher’s union, but in this day and age, unions are NOT necessary. This isn’t the 1920’s…I applaud his attempts at fiscal responsibility. Thanks goodness he turned down the ARC project, imagine NJ getting stuck with the overruns? How much more would property taxes have gone up?

blahblahblah
Member
blahblahblah

I wont attack your post. I will simply advise you brush up on your history, facts and then post your opinions. Enjoy the rest of your day.[quote comment=”203236″]In my right mind, I can’t understand why anyone doesn’t like Chris Christie and what he’s trying to do in this state. Changing the status quo of our corrupt state and it’s politicians is a breath of fresh air. I mean, do people like paying the highest property taxes in the country? And for what? Funding these unions and phony commissions such as the PVSC? I believe more and more that the Sopranos was a documentary, and not fiction. I know people will comment on his “attack” on the teacher’s union, but in this day and age, unions are NOT necessary. This isn’t the 1920’s…I applaud his attempts at fiscal responsibility. Thanks goodness he turned down the ARC project, imagine NJ getting stuck with the overruns? How much more would property taxes have gone up?[/quote]

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