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Some congratulations are in order for the Democratic party in New Jersey, following the Assembly’s strong showing in last week’s elections that cost the GOP three seats at the table. They probably had a grand old time slamming their rival “Christie Republicans,” much as Democrats found themselves lashed to the moribund Jon Corzine…

We hope, however, that the celebrating is short-lived, because there is a ton of work for these folks to do in Trenton. Democrats in New Jersey get a bad reputation for creating a high-tax climate that chases away wealth and is more concerned with regulation than the business climate, transportation and other issues at the core of New Jersey’s growth needs. Whether they think they deserve that reputation or not, they’ve held the steering wheel for years in New Jersey, and must own up to the mess they’ve helped usher in.

Put most simply, the property tax issue needs to be resolved. This isn’t something the Assembly can do on its own, but it needs to push the Senate and executive branch to find sustainable solutions that help the state meet its obligations and improve its badly shelled credit rating. This is probably going to involve getting voters to approve the end of the Abbott system of sending most school money to very Democratic machines in urban areas, which will be painful — but not nearly so much as staying on New Jersey’s current course, which will continue to drive businesses and residents to greener pastures.

A common complaint of businesses everywhere is regulation, and while New Jersey has its share of overzealous regulations, we actually believe this is an area where at least some progress has been made, thanks to the red tape review team. But lawmakers can play a more active role, rather than wait for the lieutenant governor’s cell phone to ring. The mess that is the state’s transportation system needs no further introduction, but rather, immediate attention.

A lot of items on the broader Democratic agenda will continue to not stand a chance, so long as Chris Christie is there with his presidential ambitions and his veto pen. And there is plenty of bad blood over the lack of respect Christie has shown to the promises he made on issues like pension funding that would have helped the tax situation here. But common-sense measures to rein in high taxes and scale back onerous regulation will draw plenty of support. It’s time to get serious about the issues that are causing serious economic pain in New Jersey.