New Jersey’s deficit grew by $44 billion last year - WHYY

Jul 17, 2022 · According to the report, released by the State Treasury Department earlier this month, the state’s debt as of June 2021 rose to more than $248 billion — an increase of more …

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New Jersey’s Deficit Grew By $44 Billion Last Year - WHYY

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Jul 17, 2022 · According to the report, released by the State Treasury Department earlier this month, the state’s debt as of June 2021 rose to more than $248 billion — an increase of more …

whyy.org

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NJ Budget: Taxes, More Debt, Ballooning Pensions And More …

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Sep 11, 2020 · The payment would be over $1 billion more than New Jersey paid the last full fiscal year, and a major reason that Murphy’s budget proposal is so large. ... owing $44 billion …

njherald.com

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NJ Chips Away At Its Massive Debt | NJ Spotlight News

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Apr 14, 2023 · But big debt remains. New Jersey’s combined total for both bonded and non-bonded debt as of the end of the 2022 fiscal year was just over $212 billion, which was nearly …

njspotlightnews.org

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New Jersey’s Deficit Grew By $44 Billion Last Year, As State ... - Reddit

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80 votes, 36 comments. 428K subscribers in the newjersey community. News, discussion, and current events for the state of New Jersey

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NJ Is Deep In Debt. Here's How Much That Costs Taxpayers Each Year

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May 9, 2019 · Here's how that costs taxpayers each year. New Jersey is paying more than $4 billion a year to chip away at the state’s $46.1 billion worth of debt. New Jersey consistently …

northjersey.com

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N.J. Just Eliminated Billions In Debt, But Republicans Say It Falls ...

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Feb 9, 2022 · The state Treasury Department announced last week it had cleared roughly $2.2 billion in bonded debt from New Jersey’s balance sheet, slightly improving the state’s financial …

nj.com

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New Jersey’s Fiscal Future New Jersey’s Fiscal Cliff: Current …

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and former New Jersey state budget director and controller; ... This year’s $56.052 billion in projected spending, heading into final budget negotiations between the Governor and the …

rowan.edu

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NJ Budget: Taxes, More Debt And More Undesirable Choices On The …

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Sep 11, 2020 · New Jersey is one of the most indebted states in the nation, owing $44 billion in taxpayer-backed bonded debt, according to the state's 2019 debt report. That's not counting …

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NJBIA Public Policy Forum: Experts Weigh In On NJ’s Looming …

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Dec 13, 2023 · New Jersey is barreling toward a fiscal cliff that could soon drain its substantial $8 billion budget surplus unless proactive steps are taken to rein in runaway government …

njbia.org

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New Jersey’s Fiscal Future II Comparing Five-Year Revenue …

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The New Jersey state ... Department boosted revenue projections for the current FY23 budget year from the $50.359 billion projected last July to $54.055 billion and forecast a $53.829 …

rowan.edu

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Audit Showed $40B Surge In State Debt | NJ Spotlight News

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Jun 20, 2022 · In all, the audit released late last month indicated there was a more than $40 billion year-over-year increase in New Jersey’s non-bonded debt. That big increase — which pushed …

njspotlightnews.org

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Here's What's In Gov. Murphy's $45 Billion N.J. Budget Plan

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Feb 23, 2021 · Murphy wants to make a $6.4 billion payment to the state’s public sector pension system next year, the first full payment into the retirement fund in more than two decades. ...

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Economy Of New Jersey - USAFacts

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Aug 30, 2023 · In the 3rd quarter of 2023, the real GDP for real estate and rental and leasing in New Jersey was $129.2 billion per year (seasonally adjusted), the highest in the state. Each …

usafacts.org

FAQs about New Jersey’s deficit grew by $44 billion last year - WHYY Coupon?

How much debt does New Jersey have?

New Jersey’s combined total for both bonded and non-bonded debt as of the end of the 2022 fiscal year was just over $212 billion, which was nearly $40 billion less than was reported this time last year. Still, it was also equal to roughly four times the size of New Jersey’s current annual operating budget. ...

Why did New Jersey lose $33 billion a year?

Meanwhile, on the non-bonded side of the debt ledger, New Jersey’s grand total decreased by nearly $33 billion year-over-year. Most of that reduction is attributable to restatements of New Jersey’s net pension liability and the liability for other post-employment benefits, often referred to as OPEB, according to the report. ...

Did New Jersey get a new budget?

New Jersey got a new budget last week, about 15% bigger than last year’s. And more than 50% larger than a decade ago. How did that happen? ...

What is New Jersey's Debt defeasance & Prevention Fund?

After tax receipts came in far higher than predicted last year, Murphy and Democratic lawmakers passed an election-year state budget flush with billions in cash. The $46.4 billion spending plan included a $3.7 billion Debt Defeasance and Prevention Fund aimed at attacking New Jersey debt from a different front. ...

What is New Jersey's biggest spending plan?

New Jersey is in an economic recession, short billions of dollars in revenue and planning to cut more than $1 billion worth of programs in spending compared with past years. Despite that, if Gov. Phil Murphy’s proposed 12-month budget is enacted as is, it will be the largest spending plan New Jersey has ever put in place: nearly $40.1 billion. ...

Is New Jersey reducing long-term debt?

At the same time, New Jersey’s newly released annual financial report further underscores some of the progress the administration has made in reducing long-term debt. Figures included in the state’s latest “Annual Comprehensive Financial Report” track improvement in the category of bonded debt during the 2022 fiscal year, which ended June 30, 2022. ...