N.J.’s problem is that it still spends too much money, new study finds | Opinion

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By Thomas J. Healey and Thad D. Calabrese The Murphy administration and the state legislature have approved a budget coming out of the pandemic that simply does not do enough to put New Jersey on solid financial footing. Despite the accolades surrounding the significant $6 billion investment in the pension fund, in an analysis we have just completed, we assert the state needs to avoid being lulled into complacency because of one-time Federal COVID financial relief and its $4 billion repayable borrowing. In particular, New Jersey needs to address once and for all the massive underfunding of its…

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