A disappearing surplus and a $4 billion structural deficit imperil New Jersey’s future.
The budget that we’ll pass next week in the state Legislature won’t be made available in time for anyone to assess what’s really in it, or even reveal how some spending items got there. But it will unquestionably demonstrate one critical thing: The Murphy Administration will go down as a historically tragic missed opportunity. All may seem well in the coal mine, but the poor canaries’ futures aren’t looking good.
The ratings, and the governor’s chest-pounding, are delusional. Both assume taxpayers’ pockets are inexhaustible and don’t realistically address the peril ahead. And we can anticipate a toxic appendage of unexplained and unjustified pork that the Democrat Legislature demands every year. A $5 billion surplus with a structurally sound budget is much more preferable than a $10 billion surplus and a $5 billion burn rate. The former can go on forever. The latter will quickly cause inordinate pain to those dependent on state services and the taxpayers who fund those services. This is the situation the Murphy administration will leave us in.
@Nlopinion @Exmeter Budget Phil-Murphy @Sub-Group-C @Sub-Group-B @Subscriberexclusive
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