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Gov.-elect Chris Christie compiles plans to slash N.J. spending up to 25 percent
Gov.-elect Chris Christie and his transition aides are compiling plans to slash New Jersey state spending and state programs by as much as 25 percent in response to the continuous flow of dim financial news from the New Jersey Treasury Department, according to an internal document obtained by The Star-Ledger.Even before he takes office next month, his team is looking for programs that can be eliminated entirely and calling on state administrators to find untapped federal funds to cover whatever they possibly can. "Absent strong action, revenues and expenditures will likely remain out of balance for the foreseeable future," according to a Dec. 18 memo from the state Office of Management and Budget to all cabinet members and agency directors. The letter was dispatched "at the request of the governor-elect's transition team" and said the deadline for responses is Jan. 6, nearly two weeks before Christie is to be sworn in. Christie, a Republican, defeated Democratic Gov. Jon Corzine in last month's election and has been critical of Corzine's spending practices and budget forecasts. The latest cuts, aimed at closing a budget gap Christie estimates at $9.5 billion, would come on top of cuts ordered by Corzine to close a $1 billion hole in the current $29 billion budget. The governor has yet to reveal those plans but expects to do so before Christmas. Corzine has also frozen "discretionary" state aid to municipalities and arts groups, forcing them to scramble to pay bills. Unlike the federal government, state law requires Trenton's spending and revenue to be in balance; deficits are not allowed. Posted by: Fred 2009-12-23 |
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