By Thomas A. Bracken
There's a photo from the New Jersey Chamber of Commerce's Legislative Awards reception in Atlantic City that was a big hit here at the Chamber offices. In the picture, state Senate President Steve Sweeney, a Democrat, and Lt. Gov. Kim Guadagno, a Republican - two strong personalities who have had their differences – are exchanging warm smiles.
Actually, all the Republicans and Democrats at our reception were nothing but smiles. It was a welcome scene and a far cry from the perceived relationship between the Dems and GOP.
When they are inside the Trenton beltway, our government leaders criticize each other, issue scathing press releases and snipe. They assess blame and take credit. But when you spend time with them, see them up close – lawmakers on both sides want essentially the same things: education reform, job growth, economic development and controlled spending. They want a better New Jersey.
This is what the Chamber wants too. For all of us to realize this goal, we need our elected officials in our towns, in Trenton and in Washington to end the political rancor, especially while we are emerging from a painful recession that has what economists call a long tail of uncertainty. There's no time for obstruction or self-promotion. It's time for our leaders to grab some rope and pull the wagon in the direction of economic growth.
Business leaders and citizens must pitch in too – this state belongs to all of us.
Thomas Edison – a founder and a vice president of the New Jersey Chamber when it was established 100 years ago – said: "If we all did the things we are really capable of doing, we would literally astound ourselves."
So what are we capable of?
Earlier this year, Gov. Chris Christie, Senate President Sweeney, Assembly Speaker Sheila Oliver and the Legislature proved they are capable of taking a courageous stand when they reformed health care benefits and pensions for government workers. There were protests in the streets, but the legislation will save tax payer dollars from this day forward by significantly reducing the structural deficits in both local and state budgets. The governor and Legislature should now focus on adopting education reform that will strengthen education and maintain New Jersey's talented workforce.
They should limit spending to programs with proven returns like transportation infrastructure – an investment that also generates jobs. They should adopt smart policies that encourage job growth and economic development.
We urge business leaders to stand strong in trying times. It's tempting to hunker down, but in crisis there is opportunity to grow and innovate. Interest rates are low, the job market is full of great candidates and consumer spending is increasing. Optimism indeed seems to returning. Seven out of ten New Jersey business executives said they expect their companies' business to improve over the next 12 months, and more than half said they plan to hire, according to a survey conducted Oct. 25 by the NJ Chamber of Commerce and Sovereign Bank. Such optimism bodes well for the economy. If business leaders' optimism is followed by action - hiring and investing in their companies - it will speed our momentum toward a full recovery.
New Jerseyans and Americans have displayed resilience while the unemployment rate remains high. There was an increase in consumer spending during the third quarter, which boosted growth to the highest level of the year. And in the past two months, the number of employed individuals in the state's private sector increased by 34,000. We hope New Jerseyans' confidence grows with these indicators – this too will speed the recovery.
"Be courageous," Thomas Edison advised his countrymen during a tough economic stretch, "whatever setbacks America has encountered, it has always emerged as a stronger and more prosperous nation. Be brave as your fathers before you. Have faith and go forward."
