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N.J.’s debt grew by $6B in fiscal year 2012, state’s treasury department says
New Jersey’s long-term debt grew by $6 billion in fiscal 2012, largely because of its failure to meet pension payments or save enough to cover health insurance for retirees, the state Treasury Department said today.
N.J. faces $2B budget shortfall, but Christie holds out hope
With six months left in the fiscal year, New Jersey needs a nearly 12 percent growth spurt in tax collections to stave off possible cuts in education aid, property tax relief or the public employee pension fund.