From Truth In Accounting…
Truth In Accounting Issues New Jersey’s “Financial State of the State”
Today, the Institute for Truth in Accounting released New Jersey’s “Financial State of the State.” The numbers are not good and they are getting worse every day. The state’s bills as of June 30, 2009 were $143 billion and the state had already used $33 billion of assets that were supposed to be set aside to met established legal and contractual obligations. To pay bills and obligations past legislators should have already covered current and future, taxpayers will have to come up with $176 billion—$66,200 per family.
New Jersey Legislators Should Know the FACTS Before Budget Vote”