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Debate Over Size of NJ’s Budget Shortfall

The Christie administration and the Legislature’s budget experts are giving sharply different revenue forecasts for New Jersey.

Money
Flickr User 401k

New Jersey Treasurer Andrew Eristoff is now projecting the state will take in $676 million less than Gov. Chris Christie budgeted through July 2013.

But the Legislature’s chief finance officer estimates the budget gap is $1.3 billion for the two-year period.

The figures are according to summaries of testimony, planned for Wednesday, that were obtained by The Associated Press.

That’s when the treasurer and legislative budget officer David Rosen will present their latest forecasts to the Assembly Budget Committee.

A Wall Street ratings agency has predicted the state’s economic recovery will lag the nation’s through next year.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

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