NJ Fiscal Folly

Friday, February 17, 2006

We're All Doomed, Doomed I Tell You!

The NJ Department of Education has just released the FY 2005 Annual Report on the School Facilities Construction Program. It's a pretty long report, and I'm still working my way through it. However, I already know the punchline.

According to the DOE, it will take a minimum of $12.8 billion in additional spending, over and above the $6 billion already committed, to complete Abbott District school construction. Furthermore, Abbott Districts currently receive $2 billion per year in state aid for operating expenses.

Pretty soon the State of New Jersey will be renamed Abbott Take All.


At 12:56 AM, Blogger Ken Adams said...

Stop by SmadaNek for a follow-up. It's worse than you think!


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