Governor Orders Cabinet Members To Cut $400M

corzineNew Jersey Gov. Jon Corzine is directing members of his Cabinet to come up with $400 million in savings options as he struggles to keep the state budget in balance. Corzine told department heads Thursday to submit reports to the state treasurer by Dec. 1. He also ordered them to maintain a hiring freeze and strict restrictions on travel. He said state revenue collections for October came in below targets and may continue to erode in the months ahead. Corzine also called on state lawmakers to refrain from passing any bills that would result in added spending during the upcoming lame-duck legislative session.

Corzine lost his bid for re-election to a second term on Tuesday amid voter discontent over high taxes and the sagging economy. AP

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