N.J. Gov. seeks $400 million in cuts

    New Jersey Governor Corzine is giving his department heads until Tuesday to come up with $400 million in spending cuts.

    New Jersey Governor Corzine is giving his department heads until Tuesday to come up with $400 million in spending cuts.

    Listen:
    [audio: 091130pgcuts.mp3]

    A tax revenue shortfall this year because of the recession is prompting the governor to slice spending to balance the current state budget.

    Republican Assemblyman Declan O’Scanlon, a member of the Assembly Budget Committee, says the latest cuts won’t reduce the projected multi-billion-dollar deficit for the next fiscal year.

    O’Scanlon: No one should have any illusion that what we’re going to do now is going to make it easier next year. If anything the fact that we’re still short on this year’s budget means it’s going to be even harder.

    O’Scanlon says more action is needed to reduce the size of government and make it affordable. Governor-elect Chris Christie has said closing the budget gap will be his first priority when he takes office January 19th.

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