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DEMOCRATS PROPOSES BORROWING MONEY TO MAKE PENSION PAYMENT EARLY

Top Democrats proposed a plan this week to borrow money to make the pension payment. Senate President Steve Sweeney led the group that suggested Gov. Chris Christie should borrow $1.3 billion for the pension payment and then pay it back when the money comes in by April. The move could cost the state $8 to $10 million but they project it would make the pension system an extra $90 million over the course the year by having the additional time to earn interest.

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