Feb. 25 (Bloomberg) — New Jersey Governor Chris Christie staked his national ambitions on repairing a state known for chronic deficits, high taxes and a reputation for corruption.
To create what he called the Jersey Comeback, the Republican cut school aid, made public workers pay more for their retirements and canceled a Hudson River commuter-rail tunnel that he said taxpayers couldn't afford.
As Christie, 51, prepares to present his fifth spending plan today, New Jersey's recovery trails that of its neighbors, with revenue falling short of goals and pension and debt costs surging. The governor has broken his vow to curb borrowing for roads and to cease using one-time budget-balancing maneuvers.
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