S&P dumps on New Jersey’s credit rating (again)
The applicable question might not be who will be our next governor but, rather, who would want to be New Jersey’s successor to Chris Christie?
This week, S&P announced that it’s downgrading New Jersey’s credit rating from “A” to “A-.”
It’s the 10th credit rating downgrade since January 2010.
S&P’s slam comes two weeks after a Bloomberg report ranking New Jersey’s pension system as the country’s “worst-off,” surpassing Illinois, and one month after Governor Christie signed a massive gas tax increase featuring an estate tax phase-out but unaccompanied by cost-controlling measures.
New Jersey voters will select a new governor in November 2017.
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