Corzine Delivers Final State of State

New Jersey Gov. Jon Corzine delivered his final public speech on Tuesday, taking a belated victory lap for increasing the number of poor children receiving health care and enrolled in preschools, and claiming responsibility for failing to provide enough economic relief to tax-choked homeowners.

Corzine's 35-minute State of the State speech delivered to the Legislature capped a one-term governorship played out against the deepest economic recession in decades.

Corzine lost his re-election bid to Republican Chris Christie by about 85,000 votes, a result considered an upset in Democratic-leaning New Jersey. He officially leaves office next Tuesday, but will be out-of-town for much of the rest of his term.

Often humble and at times emotional, the former head of Goldman Sachs called his four years as New Jersey's CEO "an extraordinary experience."

"In my own small way, I've tried to make a difference," he said.

The audience of current lawmakers, Cabinet members, Corzine staffers and political dignitaries including former Govs. Brendan Byrne and Jim Florio, and Supreme Court Chief Justice Stuart Rabner, gave Corzine an extended standing ovation when he entered the Assembly chamber.

Corzine thanked the Legislature for helping him enact new children's programs and services and cautioned lawmakers against undoing those gains in a tough economy.

"In meeting the challenges ahead, I would advise you to weigh carefully the long-term consequences of your choices as well as the necessities of the moment," he said.

During Corzine's term, the state began a court-ordered, top-to-bottom reform of the child welfare system. Corzine revised the school aid formula so it benefits children, not just their district. He added preschools in the poorest districts and increased the children's health rolls by tens of thousands. The school funding formula was later successfully defended before the state Supreme Court.

"If we fail to invest in our children, if we shirk our responsibility to provide them with the full blessings of citizenship -- then we don't just fall short in our moral responsibility, we undermine our long-term future for selfish, generational gain," Corzine said.

Corzine, who was unseated in November despite his pedigree as a Wall Street wizard, also reminded the audience that New Jersey has not been alone in the recession.

He said President Obama took from New Jersey's playbook when crafting a national economic recovery package and emphasized the state's innovative programs like anti-foreclosure assistance.

But, he acknowledged, "we didn't finish the job."

"Everyone's property taxes remain too damn high," he said.

Corzine said he tried to address another glaring fiscal problem New Jersey's growing debt -- but came up empty when legislators and voters refused to go for his plan, which involved massive toll hikes to pay down half the state's debt.

On Tuesday, he referred to the plan as "the elephant in the room," and sarcastically called it, "my glorious asset monetization plan."

Corzine also extended well-wishes to Christie, who did not attend the speech but was at the Statehouse earlier in the day.