TRENTON — New Jersey’s bond rating was downgraded Wednesday by Standard & Poor’s, a move that could add significantly to the state’s borrowing costs and focuses even more attention on public-employee pension and health care payments.
The agency dropped New Jersey to a rating that is among the lowest in the country. According to S&P, the only states with worse credit ratings are California and Illinois, widely considered to be in the steepest financial trouble.
via Drop in N.J. bond rating could add to state's borrowing costs, financial problems | NJ.com.
Junk politicians lead to junk bonds.
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