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Governors Borrowing Scheme Impending Fiscal Disaster

Murhy

the staff of the Ridgewood blog

 

Trenton NJ, Senator Declan O’Scanlon again sounded the alarm warning of the dire fiscal consequences of the Governor’s plan to borrow $10 billion to fill shortfalls in the State budget.

“This devastating scheme is fiscally indefensible and unconstitutional. There’s a legal opinion that says we cannot borrow without voter approval to fill a hole in our budget,” said O’Scanlon. “In the most unaffordable state in the nation, it is unfathomable the Governor and Democrats would propose a ‘solution’ of this magnitude.

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