Posted Friday, Jan. 14, 2011, at 9:38 AM
This looks a little worse than a map studded with surveyor's symbols.
About 20 minutes after Christie, 48, told a town-hallmeeting in Paramus today that health-care costs "willbankrupt" the state, the New Jersey Economic DevelopmentAuthority cut its tax-exempt school-related bond offering bymore than half to $712.3 million.
Brendan McGrail gets two sources from the Christie administration to try and knock this down: the state treasurer's office doubts that "anybody who is a serious student of the
thinks thegovernor’s comments had anything to do with this bond sale." Yet part of the spin is that
Christie has been saying this for months
. What's the effect of repeated assurances from a governor that the state will go bankrupt if it doesn't do something? Good question, though the counter-argument is: What would happen to the bond rating if the state went bankrupt.
Worth noting, at this point: The conventional wisdom was that Christie would take a popularity hit from his handling of the December 2010 snowstorm,
and he didn't.
Via Bruce Bartlett.