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$10.472 billion

August 16, 2010

The structural deficit of the New Jersey budget for fiscal year 2012, which begins next July, is $10.472 billion, according to New Jersey’s non-partisan Office of Legislative Services. It is this yawning budget gap that is expected to take up much of the debate and time and attention of the Governor and legislature during the coming months, as officials try to grapple with ways to meet current obligations; fund future pensions; provide matching funds for federal dollars for critical transportation projects; and replace one-time federal stimulus grants and an expiring millionaire’s tax. It’s a tall order and one that promises to supply a lot of fodder for NJ Spotlight this fall.

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