NJ Lagging in Growth, Leading in Spending: Report
Two recent reports show New Jersey is lagging in economic growth and proposed rainy day funds but leading the nation in proposed spending increases.
A U.S. Commerce Department report shows New Jersey’s economy fared worse than all but three states.
A National Association of State Budget Officers report shows Gov. Chris Christie is one of five governors recommending a year-end balance less than 1 percent of total expenditures.
That report also shows Christie has proposed a 7.2 percent spending increase for the 2013 fiscal year, the largest increase among the 50 states. The average spending increase recommendation is 2.2 percent.
(Copyright 2012 by The Associated Press. All Rights Reserved.)