As the state legislature and Governor Murphy work towards enacting a state budget by a June 30th deadline, the editorial board of the Press of Atlantic City calls for an agreement that reflects the perilous reality of the state’s fiscal health:
“New Jersey’s financial problems demand solutions, and these are reasonable given the hole the state is in. Credit-rating agency S&P Global says the state has the second worst pension funding ratio in the nation and is dead last in making progress toward funding even the bare minimum of its growing pension costs.
Gov. Murphy’s approach would dodge the fiscal bullet and increase spending further beyond what’s sustainable. That’s just digging the hole deeper.
Sweeney and the Economic and Fiscal Policy Workgroup want state government to face reality and start regaining the strength to serve the interests of the public. Sooner or later that must happen, and since later is just more painful, starting with the new budget is in everyone’s interest.”