AFP Responds to Latest Report on Growing State Debt, Unfunded Liabilities

February 19, 2014

AFP Responds to Latest Report on Growing State Debt, Unfunded Liabilities

Will Governor, Legislature “Heed the Warning”?

MONMOUTH JUNCTION, NJ – Americans for Prosperity state director Daryn Iwicki has released the following statement concerning today’s report that the State’s debt and unfunded pension and benefit liabilities are on the rise.

“Starting next week with the governor’s budget address the budget process will begin in earnest. The question for legislators and the governor is; will you now heed the warning? Will you now stop the overspending and the borrowing which are imperiling our state?

“Today’s report is sobering news that New Jersey is still headed in the wrong direction. We’re in a deep fiscal hole which we must begin to dig out of now. With the State committed to a $2.4 billion pension payment, $1 billion higher than last year, the budget must be cut elsewhere. And legislators must work with Gov. Christie to make further changes to stabilize our broken and failing pension system.

“If lawmakers do not take substantive steps to deal with these pressing challenges now, they will be condemning future generations of New Jerseyans to a bleak reality; one marked by oppressive taxes and economic malaise.

“Our elected leaders in Trenton cannot allow this to happen. It’s time to come to grips with reality and spare future generations of New Jerseyans from inordinate misery.”

Americans for Prosperity (AFP) is a nationwide organization of citizen-leaders committed to advancing every individual’s right to economic freedom and opportunity. AFP believes reducing the size and intrusiveness of government is the best way to promote individual productivity and prosperity for all Americans. AFP educates and engages citizens to support restraining state and federal government growth and returning government to its constitutional limits. AFP is more than 2 million activists strong, with activists in all 50 states.  AFP has 34 state chapters and affiliates. More than 85,000 Americans in all 50 states have made a financial contribution to AFP or AFP Foundation. For more information, visit www.americansforprosperity.org

Americans for Prosperity does not support or oppose candidates for public office.

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