Friday, January 14, 2011

Chris Christie cuts NJ borrowing demand

New Jersey Governor Chris Christie has learned that talking about state insolvency may have a cost.

About 20 minutes after Christie, 48, told a town-hall meeting in Paramus today that health-care costs “will bankrupt” the state, the New Jersey Economic Development Authority cut its tax-exempt school-related bond offering by more than half to $712.3 million.
Great, so we now know how to stop government from borrowing.
Here is one from me, California is bankrupt.

The Bloomberg reporter, Brendan A. McGrail, is wrong in reporting that this is bad thing.

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