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Borrowing billions to balance New Jersey’s budget is very bad policy

SEPTEMBER 17, 2020 | by Richard Keevey | NJ SPOTLIGHT

Op-ed by Richard Keevey, includes “… Do not issue bonds to balance the New Jersey state budget. It is bad public policy and it will create much deeper budget problems in the future. … The state sold bonds to fund the pension system almost 24 years ago. We are still paying debt service on these bonds. In the budget for fiscal year 2020, the debt service payment is $472 million for those bonds and we have four more years to go at $507 million per year. Such actions were wrong then and they are wrong now.”

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