New Jersey 2023: Legacy costs, debt service will eat 26% of state revenues

TRENTON, N.J. – Moody’s issued a stark warning on Monday evening about the scope of New Jersey’s public debt/pension crisis, one which has earned its pension system the dubious distinct of being among the nation’s least stable.

By 2023? 26% of every dollar passing through Trenton will be consumed by legacy costs and debt service.

Sustainable? Unlikely: