dispite the hoopla no noticeable impact
Sequester a whole lot of nothing
NJ won’t feel the worst of sequester, experts say
Saturday March 2, 2013, 11:49 PM
BY ANTHONY CAMPISI
STATE HO– USE BUREAU
Predictions of mayhem have been flying fast and furious in the days leading up to the deadline for the $85 billion in across-the-board federal spending cuts known as the sequester.
But as officials and experts in New Jersey got a closer look, a different reality has emerged: The state will not feel much pain in the immediate future, and even long term, it is likely to be spared the worst of the cuts.
Though federal domestic spending will be facing a 9 percent cut, which will lead to reductions in New Jersey programs ranging from school aid to childhood vaccinations, the Christie administration expects the immediate impact on the state’s budget to be modest.
The administration has set aside money in the budget for the next fiscal year starting July to protect the “ability to provide critical services” in the event that politicians in Washington couldn’t break their impasse on the federal budget. But the amount is just $3 million.
State Treasurer Andrew Sidamon-Eristoff said last week that the worst effects of the sequester won’t be felt until the coming fiscal year.
“The agencies have indicated to us that they don’t think the impact in the current fiscal year will be that significant,” he said.