Ballot question lacks transparency

New Jersey state ballot question #1 asking if we want to bond (borrow) another $400 million for Green Acres, Blue Acres, and Farmland and Historic Preservation does not provide us with enough to cast an educated vote on November 3rd.

This insanity of borrowing must stop.  The supporters of the bond have had both feet in the ‘open space’ bonded money for decades and should have been monitoring the expensing of prior money better.  Now they want more.

Americans for Prosperity’s Steve Lonegan has a radio ad that opens a door for further insight, you can listen here.

Assemblyman Rick Merkt wrote a good letter to the editor in the Observer Tribune.  Here is what he has to say about what the $400 million is anticipated to cost when the interest is added in.

“By the way, the same is true for the proposed bond issue: It may approve $400 million in new debt, but the payback will be around $700 million.  Funny, how the sponsors choose not to share this important information with voters in the “explanation” on the ballot.”

That’s a lot of money, to go where?  Other than the Blue Acres for floodplain protection and purchases, it is time these ‘open space’ bonding issues be placed solely in the hands of local voting in counties and municipalities.

Below are three editorials from major NJ newspapers that are also against more borrowing.

Bergen Record

Star-Ledger

Press of Atlantic City