CREDIT AGENCY DOWNGRADES NEW JERSEY TO NEGATIVE

Chris ChristieA major credit rating firm has slammed the budget proposal by Gov. Chris Christie and downgraded the state’s future outlook to negative. Fitch says the new budget proposal by Christie relies too much on one trick ponies and doesn’t leave a lot of extra cash around if the budget numbers don’t come in as expect. The firm also said the ballooning pension numbers are going to make it difficult for the state to continue key projects in the future.