NJ Government Receipts Fall Short of Expectations

N.J. revenue is 3 percent below $6.14B projected budget is an NJ.com news story revealing that revenue receipts for the New Jersey state government were about 3 percent less than anticipated for the quarter spanning the months July, August and September. Since the state constitution requires balanced annual budgets adjustments must be made. That likely translates into budget cuts. The political significance of budget problems is heightened in this gubenatorial election season where Democratic Governor Corzine is running against Republican challenger Chris Christie.