By Regina Egea and Thomas Healey, includes “… Murphy has instead defaulted to the fiscally irresponsible approach that treats the crisis as a short-term cash crunch, which can be fixed through the collective magic of federal grants and loans, massive borrowing, and, once again, deferring the annual required contribution (ARC) to New Jersey’s public-pension system—already one of the worst funded in the nation… a sound alternative is available to borrowing billions of dollars and saddling every citizen with repayment. …”
Read the full article on: City Journal