New Jersey Governor Phil Murphy's administration ordered an immediate halt to state spending and hiring, because of what NJ.com describes as "an esoteric accounting maneuver caught up in charged state budget talks."
In short, if the state doesn't quit non-essential spending or the state Legislature doesn't allow the Murphy administration to shuffle spending from one part of the budget to another, they risk ending next month's fiscal end-of-year in the red, according to the New Jersey Treasury Department.
State Treasurer Elizabeth Muoio on Friday ordered the immediate hold on both spending and hiring "until further notice," according to a news release. -NJ.com
"We have to reserve all available resources in order to ensure we close out the general fund in a positive position," said Muoio.
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2 comments:
Collapse is near and it isn't just NJ
Everything was real nice in Jersey when casino's were still alive and well. (Fat cats kept getting fat) Piss poor planning got them into this mess, maybe some good planning and proper spending from here on out is whats needed???? HELLO NEWMAN!
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