New Jerseyans owed $51.2 billion in 2009, according to the Christie administration’s Budget in Brief. The figure, which was taken from the Comprehensive Annual Final Report (CAFR), included bonded and nonbonded debt, net pension obligations, accumulated vacation and sick leave, capital leases and loans payable. The fiscal 2011 budget calls for 7 percent—or $1.9 billion—to be devoted to debt service. However, that figure does not include an additional yearly debt service of $1 billion, which is accounted for in other parts of the budget.
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