STATE FELL SHORT OF REVENUE PROJECTIONS IN 2012

Final details of the 2012 fiscal budget show that the state had to hit the bank to close out the books. An audit released said that New Jersey fell $123 million below revenue projections, meaning Gov. Chris Christie needed to fill that gap from a reserve fund. The state now has $525 million in reserves and is continuing to fall behind revenue projections for the current fiscal year. Democrats have been calling on Christie to better address the shortfall and to talk about what needs to be done to get the state back on the right fiscal road.