Gov. Corzine today will propose his fourth state budget since becoming governor in 2006. Corzine walked into the job with the state already bleeding red ink and facing multi-billion dollar deficits every year. He initially raised taxes to get revenues up to match the state's spending. His second budget, during an election year for the entire Legislature, boosted property tax rebates and aid to towns and schools, spending much of the money raised from the previous year's tax hike. By year three the rebates were scaled back as part of a plan to cut government by $600 million. That move came after residents blasted Corzine for proposing steep toll increases as a solution to the state's finances.

Here's a summary of the first three speeches.

2006 (fiscal year 2007):

The big picture: Corzine called for nearly $2 billion in tax increases, largely through raising the sales tax from 6 to 7 percent. He also proposed tax hikes on alcohol, cars costing more than $45,000 and cigarettes.

Quote: "To those who thought my financial background would mean I had some magic bullet in my holster to balance the budget, I am sorry to disappoint you . . . My answer is as simple as old-fashioned arithmetic: we can't keep spending more than we take in."

The result: Corzine got most of what he wanted, though not until after a government shut down caused by his battle with Assembly Democrats. The Assembly fought the sales tax increase past the July 1 budget deadline, and Corzine closed down government operations, which forced casinos, without regulators, to shutter for days. He got the tax revenue, but had to put half of it towards property tax relief and much of the rest was spent in a last minute spree of "Christmas Tree" spending for lawmakers' pet projects approved, literally, in the middle of the night. Total spending: $30.8 billion.

 2007 (FY 2008):

The big picture: In an election year for the entire Legislature, Corzine keeps the budget simple and controversy free. There was more money for schools and towns and a big boost to property tax rebates, paid for by the previous year's sales tax increase. There were no tax hikes. Corzine spent much of the speech warning of dire financial times ahead, though, and made a pitch for converting a state asset to cash. It would be nearly a year, however, before he formally made such a proposal.

Quote: "The real news of this budget isn't what's in it but rather what's not, and what will never be in future budgets unless, together, we do something further to restructure the state's finances."

The result: The budget passed with little excitement and Democrats used the increased rebates as the crux of their fall campaigns. The program was cut the next year because the state couldn't afford it long-term. The governor eventually proposed repairing state finances with steep toll hikes that would have paid down $16 billion in debt, but the plan won almost no public or legislative support and died. Spending: $33.5 billion.

 2008 (FY 2009):

The big picture: After his toll road plan hit the wall, Corzine heeded the call from the public to cut state spending. In a speech that garnered no applause lines, the governor called for cutting state spending by $500 million. The plan included closing some state departments and reducing the state work force through early retirement incentives. School funding, though, was increased, with large amounts of aid going to districts that had been left behind for years.

Quote: "Frankly, New Jersey has a government its people cannot afford."

The result: After revenues came in low, the final cut was $600 million. More than $1 billion more cuts have been added during this fiscal year as the economic crisis has taken hold. Spending: $32.9 billion (when signed; it has since been reduced).

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