Feb. 25 (Bloomberg) — New Jersey Governor Chris Christie staked his national ambitions on repairing a state known for chronic deficits, high taxes and a reputation for corruption.
To create what he called the Jersey Comeback, the Republican cut school aid, made public workers pay more for their retirements and canceled a Hudson River commuter-rail tunnel that he said taxpayers couldn't afford.
As Christie, 51, prepares to present his fifth spending plan today, New Jersey's recovery trails that of its neighbors, with revenue falling short of goals and pension and debt costs surging. The governor has broken his vow to curb borrowing for roads and to cease using one-time budget-balancing maneuvers.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
