Updated: Aug 6, 2022
June 20, 2022 | njspotlightnews.org
New Jersey’s recent string of positive fiscal news was interrupted several weeks ago by a new audit that indicated overall debt rose across the board during the last fiscal year.
But the audit also revealed a big increase on the “non-bonded” side of New Jersey’s debt ledger during the 2021 fiscal year. That category includes the state’s long-term public-worker pension obligations, as well as other, often overlooked, retirement benefits that can add up to a significant liability for the state and, ultimately, its taxpayers.
NJ SEED: For too many years politicians have found it easy to spend other peoples’ money. Some are beginning to recognize that it is time to get NJ’s fiscal house in order.