Right.
Meanwhile, New Jersey compounded its woes with other ploys. In 2004, the state broke the cardinal rule of municipal budgeting when it borrowed nearly $2 billion to close a budget deficit, which is like borrowing on your credit card to pay off your mortgage. (The state supreme court ruled this move unconstitutional but allowed it to go forward anyway because it didnt want to disrupt government operations.)
This should tell anybody all they need to know.
Yes, and very worrisome indeed if we all are going to be on the hook for these ‘hidden’ shenanigans. Well, we won’t but our grandkids will be.
I’m advising my daughter to start thinking about emmigrating ... to NZ or someplace. Why should she or her children have to pay for all this?