CHRISTIE TOOK OUT $2.6 BILLION LOAN TO FISCAL YEAR

New Jersey was cash scrapped to start the fiscal year. Gov. Chris Christie took a loan of $2.6 billion out at the beginning of the fiscal year to get a bridge started fiscally. The state took a $2.1 billion loan out last year, so the number has only increased. While the practice isn’t a new one, the increasing amount suggests that balancing the state’s budget issues has become more complex in recent years.