Regina M. Egea
While Gov. Phil Murphy proposed a budget to increase spending by 7.2% above this year, bipartisan legislative concern is brewing over the self-inflicted crisis that lies ahead. Democratic Sen. Paul Sarlo, chair of the Appropriations and Budget committee, echoing comments made by legislative Republicans, warned that reliance “on federal aid with a limited lifespan and on long-term borrowing” may trigger a “fiscal cliff” once that revenue disappears. Senate President Steve Sweeney expressed remorse about agreeing to borrow $4.3 billion, which he now calls “regrettable,” for adding to the debt burden. He previously called the state’s penchant for borrowing a “financial death spiral.”