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NJ Spotlight--Not a Pretty Picture: New Jersey Third Most-Indebted State in the Union
NJ’s finishes third from the bottom when it comes to total debt, as well as unfunded pension and unfunded retiree-healthcare costs
From traditional borrowing to pension debt to unfunded retiree healthcare costs, new state-by-state rankings put New Jersey among the nation’s most indebted states across a number of different categories.
The overall picture painted by The Pew Charitable Trusts’ new “Fiscal 50” data isn’t pretty, with New Jersey ranking third worst in total debt, and also third worst in both unfunded pension and unfunded retiree-healthcare costs. And those comparisons improve only slightly when other factors are considered, like the generally high personal income of New Jersey residents and the overall value of the state’s pension fund.
John Reitmeyer | May 18, 2016
Jersey Journal--How much more state aid would Bayonne schools get under bipartisan plan?
BAYONNE -- The city school district would receive "millions upon millions of dollars" in additional funding from the state if a yet-to-be-unveiled bipartisan plan comes to fruition, Senate President Steve Sweeney said last week.
During an event at a Bayonne school on Wednesday, 31st District Assemblyman Nicholas Chiaravalloti asked Sweeney (D-Gloucester) to push for more state funding for the chronically underfunded Bayonne school district.
In response, Sweeney said lawmakers "are looking at fixing what is wrong with the school funding formula."
"This district, under the corrections that we're looking to do, will receive millions upon millions of dollars," the Senate president said, to the applause of local officials.
http://www.nj.com/hudson/index.ssf/2016/05/how_much_more_state_aid_would_bayonne_schools_get.html#incart_river_index
Jonathan Lin | The Jersey Journal| May 17, 2016 at 8:48 AM, updated May 17, 2016 at 3:19 PM
