01/25/2011 - Gov. Chris Christie isn’t looking to declare New Jersey bankrupt to escape billions in debt even as Washington weighs allowing that option to rescue fiscally challenged states.
"I don’t think we’re at that stage yet," Christie said on Bloomberg TV today. "I think it’s an idea that is out on the table. We need, as elected governors, to take responsibility for what’s going on in our states."
Kil Huh, managing director of the Pew Center on the States, said states are taking steps to resolve pension problems: "Before this current period, states would kick the can down the road."
Read Gov. Christie Says His Office is Working with Towns to Help Them Avoid Declaring Bankruptcy in its entirety on the NJ.com Web site.