NJ gov: Stimulus plan will help counter recession

October 12, 2008 12:11:18 PM PDT
New Jersey Gov. Jon Corzine predicts the national economy will get worse before it gets better, and he says he's positioning the Garden State to absorb the blows. Corzine has called a special session of the Legislature Thursday, when he says he'll lay out a plan to protect neighborhoods by buying foreclosed homes and create energy-sector and highway construction jobs.

Speaking on "Meet the Press" and "Eyewitness News Up Close" Sunday morning, Corzine said people have lost confidence as the financial markets have slid in recent weeks and are hesitant to spend money.

Corzine says there's "no question" the unemployment rate will rise. He says his economic stimulus plan is designed to help New Jerseyans cope with the recession.

New Jersey Republicans say they'll announce their own economic stimulus initiative Tuesday.

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