>Fitch Downgrade Highlights Destructive Role of NJ’s Activist State Supreme Court
AFP
As you know all too well, New Jersey has one of the worst tax climates in the entire country and a swelling debt of more than $45 BILLION. Our state’s dire fiscal condition was made all the more evident when credit rating agency Fitch, Inc. announced last week that it was downgrading New Jersey’s general obligation bonds to AA- from AA.
Notably, Fitch cast blame for this downgrade in part on our activist state Supreme Court, specifically citing the recent ruling which dictates that the state provide yet another $500 MILLION to the 31 failing former Abbott Districts.
