If Gov. Chris Christie decides to enter the 2016 presidential sweepstakes, he’s got a big problem: New Jersey’s economy is struggling even more than the rest of the country’s economy.
“New Jersey’s tepid revenue growth has strained the budget,” the Philadelphia Inquirer explains. “For example, income tax collections fell short of Christie’s projections last April, resulting in a two-year shortfall of nearly $3 billion.”
When David Rosen, the legislature’s top budget official, testified for lawmakers on Monday, most of his news was bad. “We’re clearly underperforming” in most areas, he said. However, in at least one way, New Jersey is doing better than expected.
As Inquirer statehouse reporter Andrew Seidman tweeted:
Christie’s treasurer: Obamacare is driving…significant net new dollars into our hospital system.
— Andrew Seidman (@AndrewSeidman) March 30, 2015
So New Jersey has that going for it–which is nice. But it probably won’t help Gov. Christie when the GOP primaries arrive.
Christie’s treasurer, Andrew Sidamon-Eristoff, spoke to lawmakers separately from Rosen.