Dan Mulligan
Joined: Fri, Sep 19 2008, 5:41 pm EDT
Posts: 172
Location: Old Cranbury Road
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 Posted: Tue, Dec 22 2009, 11:45 pm EST Post subject: N.J. Governor-Elect Christie Seeks 25% Spending Cut |
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NJ will be in for a wild ride next year when it comes to the budget, though I think we already knew that going in...
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Dec. 22 (Bloomberg) -- New Jersey’s Republican Governor- elect Christopher Christie may cut as much as 25 percent of state spending next year amid dwindling revenue.
Budget director Charlene Holzbaur in a memo to department heads ordered cuts of 15 percent to 25 percent from projected spending levels for the fiscal year beginning July 1. The letter was posted on the Star-Ledger of Newark’s Web site.
The state will face “severe budgetary constraints for fiscal year 2011,” the budget chief said.
“Absent strong action, revenues and expenditures will likely remain out of balance for the foreseeable future,” Holzbaur, head of the Office of Management and Budget, said in the Dec. 18 memo. “The current situation requires the state to review its operations, to determine which functions should continue and which are no longer necessary.”
http://www.bloomberg.com/apps/news?pid=20601103&sid=anxHpjGcd0x0 |
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