The conservative Asbury Park Press, which endorsed Governor-elect Chris Christie (R-New Jersey) for governor because he promised tax cuts, undermines its own case for their endorsement with its own budget calculator.
Bottom line: you cannot cut taxes and balance the budget at the same time. I know the Republicans like to say that you can but no, you can't. I decided to raise the income tax by 20% (this would never happen), the gas tax by 3 cents, increase motor vehicle fees by 20% (this too would never happen), while slashing government salary workers by 50% (another unrealistic expectation), property tax relief by 10%, higher education aid by 10%, school aid by 20%, and municipal aid by 20%. I also gutted CharityCare to hospitals, saving me $302 million and accepted $2.2 billion in federal stimulus aid and still wound up with a deficit of $678.75 million.