A new report paints a bleak picture of state debt. The annual debt report, approved today by a legislative commission on budgeting and planning, shows that state debt has reached $33.9 billion, the third highest in the nation. Last year, the debt was $31.9 billion. Gov.-elect Chris Christie called the state’s fiscal situation “awful” when asked about indebtedness this week. He assumes office in January with a budget deficit projected at $8 billion for the fiscal year that starts July 1. Two Republicans on the commission, Sen. Steve Oroho (R-Sussex) and Assemblyman David Wolfe (R-Ocean), did not approve the report. They say it underestimates pension fund and health care obligations and omits $2 billion in unemployment funds owed to the federal government.
A report earlier this week said that state debt would be $51 billion with pension and health care obligations included. AP
there’s a reason that idiot lost the election, one gun a month was much more important. stupid liberals!
Just THIRD highest! We have to try much much harder to be number one!
Just read this bloomberg article and it will explain you the brilliance of NJ lawmakers!!!
http://www.bloomberg.com/apps/news?pid=20601109&sid=asLz0DkeRFKI&pos=11
To nr 3, good point. Wonder how much more will be revealed……if you know what I mean…….
I guess you can kiss your smart growth goodbye. It would end up costing the state and its not happening now. Just watch it get shot down in flames in trenton.