Murphy Celebrates More Debt

November 21, 2020

Murphy Celebrates More Debt

Yesterday, Governor Murphy moved on $4B in borrowing to balance his bloated State budget.

The Murphy Administration celebrated their borrowing scheme by touting the “low” interest rates they received, ignoring (or simply not caring) that they are shackling generations of New Jerseyans with more debt.

NJGOP Chairman Doug Steinhardt issued the following statement:

“The Murphy administration celebrating it’s failure to spend responsibly proves just how out of touch with reality the Governor is. Instead of celebrating something meaningful, like a COVID plan that protects seniors, an economic plan that doesn’t kill the economy, or a spending plan that doesn’t break the bank, Murphy is celebrating securing a “low” interest rate, because he lacks the courage or financial discipline to make the kind of hard choices needed to protect taxpayers from billions more in debt. Murphy might be making his Wall Street cronies stronger and richer, but his bad decisions make New Jersey, and New Jerseyans, weaker and poorer.”