NJ State Budget May Be Worse Than Thought: Christie

Christie pledges no tax increases to balance the budget

By Brian Thompson
|  Monday, Nov 16, 2009  |  Updated 2:45 PM EDT
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NJ State Budget May Be Worse Than Thought: Christie

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New Jersey Governor-Elect Chris Christie.

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New Jersey governor-elect Chris Christie's budget team met with state treasury officials Monday and it wasn't pretty.

"We did not get any pleasant news," Christie said.
  
The administration of outgoing governor Jon Corzine has been projecting an $8 billion shortfall in next year's budget.
  
But as the economy and tax revenue limp along, "that's at the low range" of what the real number will be, according to the Christie.

But Christie did promise "I will not increase taxes to balance the budget."
  
Instead, he said his team will look for more savings on top of the $400 million in spending cuts that Gov. Corzine has ordered for this current budget year.  Those are savings that likely would carry over to next year's budget, but still far short of the $8 billion dollar deficit.
  
As for voters who elected Christie hoping for tax cuts, the Republican could only say "I don't know" while noting his promise not to raise taxes.
  
Christie did send a letter to Gov. Corzine asking for strict fiscal discipline in the final two months of his administration, something Corzine seems to already be promising.
  
As to his willingness to make what Christie calls "tough choices," he said "I'm gonna govern like a one termer."
  
"If you wanna change course, you'll have a chance to change course in 4 years, but not now," added Christie.

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