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Wednesday, July 16, 2008

New Jersey's Painful Lesson

Where on eath is the state of New Jersey doing its borrowing (New Jersey's Painful Lesson, New York Times, July 8, 2008: A22)?

If paying down $650 million in debt will only reduce interest payments by $130 million per year, then New Jersey must be borrowing from loan sharks, or Credit Card Companies at 20% per year. Can't they restructure the debt to a more reasonable figure?


Sent to New York Times

2 comments:

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