NJ Budget Crisis

Essay specific features

 

Issue:

Social Issues

 

Written by:

Eddie J

 

Date added:

November 2, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 922

 

Was viewed:

7116 times

 

Rating of current essay:

 
Essay content:

New Jersey is one of only 9 states whose bond ratings have been downgraded by Moody's Investors Service since the recession of 2001 and have not recovered. (Atzert, 2006) This chart, taken from the 2006 Budget-in-Brief shows the decline of New Jersey's credit rating. There are some clear reasons for this problem the state of New Jersey finds itself in...
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A big problem is the fully funded and over-funded pensions of the past. The three largest pension funds in New Jersey are The Teacher's Pension Annuity Fund, Public Employee Retirement Fund, and Police Fireman Retirement System. Just going back a few years, these pension funds were "over or well funded...
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