Summary
The $150 million earmarked for budget purposes clearly violates the spirit of the Supreme Court ruling. It's not even needed to balance the budget since the state has a surplus ofmorethan $600 million to draw on. In filing its intent to appeal [Linda Feinberg]'s ruling, the [Codey] administration left open the option of not challenging it. The wise course would be to tap the surplus rather than return to the bad old habit of borrowing.
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Extract
No Borrowing Means No Borrowing
JUST WHEN IT LOOKED like New Jersey was putting its fiscal house in order, a ne...
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