Christie Bankruptcy Remark Amid Bond Sale Criticized
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New Jersey Governor Chris Christie’s comments that rising health-care costs might “bankrupt” the state, made the same day of a planned bond sale, drew criticism for poor timing and may have driven up borrowing costs.
About 20 minutes after Christie, 48, made the bankruptcy reference in a town-hall meeting in Paramus yesterday, the New Jersey Economic Development Authority cut its tax-exempt school bond offering by almost half to $777.5 million and its taxable offering 50 percent to $123.2 million.