ANOTHER CREDIT AGENCY DOWNGRADES STATE

Seal_of_New_Jersey.svgThe debt problems in New Jersey caused their credit rating to take a hit. This time it was Moody’s downgrading the state one step, following the actions of Fitch and Standard and Poor’s. The latest issue was when the Christie administration admitted a $807 million shortfall in its budget. Senator Jeff Van Drew recently told Coastal Broadcasting that 95 percent of every new dollar that comes into the state will go towards pension and debt payments.

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