The Red Bank economic summit was long on summit and short on economics. The event was put together by DemocraticCouncilmanMichaelDuPont, a highway commissioner who signed the letter to Gov. Jon Corzine requesting the toll hike. The panel, made up almost entirely of prominent Democrats and featuring developers and real estate attorneys, failed to feature a single economist.

Among others, we heard from Peter Reinhart, counsel for K. Hovnanian, the company that entered an amicus brief in the Supreme Court supporting the use of eminent domain for private gain.

We heard from Jerold Zaro, whose law firm worked for the city of Long Branch to take homes away from taxpayers there and has long had its fingers in the eminent domain pie.

We heard from Elaine Sourlis, whose development company "lost everything in the nineties due to a bankruptcy." I was a little confused as to why the panel included someone who says she "lost everything" in a bad economy. Perhaps as a cautionary tale.

The introductory comments alone lasted over an hour. Zaro, a Corzine appointee to head the Office of Economic Development, opened, telling us that "There is no better captain in these tough economic waters than Jon Corzine."

I've seen 100 stand-up comics at the Count Basie, but this was the best joke I've heard come from that stage — too bad it's on us.

Zaro, of Ansell, Zaro, Grimm & Aaron, touted a half-dozen programs the governor is offering for "economic stimulus" and spoke for over 15 minutes on money being "put back into New Jersey." No one mentioned that these plans are funded by taxpayers.

Then we heard from Ed McKenna, of McKenna, DuPont, Higgins & Stone. He told us that landlords need to work with tenants and "be reasonable."

When asked what should be done to weather this storm on a local level, the Democrat, a 16-year member of the governing body of Red Bank, failed to offer a single piece of advice about what borough hall could do to help taxpayers from going under.

Democrat Freeholder Barbara McMorrow spoke, mostly introducing county staff members. This was fortunate because when she couldn't answer the only question she was asked during the latter part of the program, she had someone to answer it for her.

While there was some excitement over discussions of improving the parking situation, the panel failed to address the real issues that are challenging residents and businesses in Red Bank and around New Jersey — falling real estate values, consumer debt, toll increases, utilities hikes and taxes.

Local and state government could and should be talking about these issues. Instead, we heard an hour of introductory commercials on how esteemed this panel is.

In support of Trenton, I suppose, Democrat Mayor Pasquale Menna told us that he's proud that Red Bank isn't fighting the new COAH rules.

I'm all for affordable housing but I'm humble enough to say that I can't afford to pay for this unfunded mandate. I've seen the Red Bank budget. Red Bank can't afford it either.

So, I spent an evening listening to another Corzine dream team telling us how to handle the bad economy. And not a single person, not one member of this group, ever used the word "spending." Not once. I waited. I hoped. I held my breath. There was not a single suggestion that taxpayers could get some relief from government spending.

New Jersey needs to wake up from this bad dream and toss these big spenders out on their heads. We need an administration that uses economists, not real estate developers and lawyers, to guide us through tough economic times.

We need leaders who recognize that raising tolls, raising taxes, and growing government spending is breaking the backs of taxpayers. New Jersey needs leaders who will stop spending. When your car's in a skid, take your foot off the gas.
Grace Cangemi
Red Bank