Report: New Jersey debt grew by 3 percent, approaches $38 billion

    New Jersey’s debt grew by 3 percent to approach $38 billion, still Governor Chris Christie is borrowing money at a slower rate than previous governors.

    The Statehouse Bureau reports Christie added a little more than $1 billion more to the state’s debt, mainly to pay for road, bridge and rail projects.

    The numbers come from a report released Friday by the state Department of Treasury. According to the report, the debt increased by $1.15 billion from July 1, 2010 to June 30, 2011, which is the period tracked by the report.

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