Noting New Jersey’s growing economy and job creation, and controls on new debt and property taxes, Assembly Republican Budget Officer Declan O’Scanlon said the state is in much better shape than it was under Democratic leadership.

“By any measure, New Jersey is in much better shape than it was under Democrat leadership. We are creating jobs, growing the economy, and getting debt and property taxes under control,” O’Scanlon, R-Monmouth, said. “That is in direct contrast to the last decade when property taxes sky-rocketed, jobs disappeared and state taxes, spending and borrowing went through the roof under Democratic policies. Those responsible for last decade’s debacle lose even more credibility when they criticize the hard work that has gone on the last three years to fix our state.”

O’Scanlon noted:

After state debt grew, on average, by 12 percent every year from 2002 to 2008, it is down to 3 percent this year.

After property taxes increased 70 percent last decade, New Jersey is experiencing the smallest property tax growth in 20 years.

New Jersey lost 156,000 jobs from 2000 to 2010, and has created 120,600 private-sector jobs since February 2010.

Revenues have exceeded projections the last four months and major revenues are on track to grow by 9 percent.

“No matter how you crunch them, the numbers add up to the fact that New Jersey is in a much stronger position than it was just a few years ago,” O’Scanlon said. “You don’t need an advanced degree in calculus to understand that our economy is moving in a much better direction. Anyone who says otherwise, either has trouble understanding basic math and fiscal policy – or has warped political motivations.” TLS.