How $415M vanished from the N.J. surplus

[no_hypocrisy]

When Governor Christie left for his two-week work vacation, he left behind a $640 million state surplus — the largest in a decade. When he returned Monday, more than half of that money was gone.

At $225 million, the surplus represents less than 1 percent of what the state is spending this year. So what happened?

While Christie was out, angry Democrats seized on the $640 million figure to portray the governor as a Scrooge stocking up on rainy-day funds after cutting almost $1 billion from programs mostly benefiting New Jersey’s poorest residents.

Then state Treasurer Andrew Sidamon-Eristoff told reporters almost half of the surplus money was already set aside for incoming bills for senior property tax relief, debt service and health benefits.

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http://www.northjersey.com/news/How_415M_vanished_from_the_NJ_surplus.html

[RaleighNCDUer]

1. Seems to me that if money is set aside for incoming bills,

then that money is not and never was 'surplus'.

My not paying the rent yet does not mean I have a $700 surplus in my budget.