CHRISTIE BORROWING TO KEEP TRANSPORTATION PROJECTS GOING

Gov. Chris Christie will be borrowing $1.4 billion in order to keep transportation work going in the state. The state’s transportation trust fund is next to broke. Christie said that he realizes there is a real long term problem that needs to be fixed and he is going to begin developing a plan to fund these projects in the future. The debt continues to eat up the dollars available in the fund from borrowing in the past. The Transportation Trust Fund authority has said publicly that of the $895 million for transportation projects this year, $850 million is going to debt service.