Government officials not acting fiduciarily responsible

August 14, 2020

Prior to the pandemic in mid-March, NAIOP NJ had planned to convene several experts to examine New Jersey’s fiscal challenges, controlling costs at the local level and pension and benefits reform. In the subsequent four months, our national GDP has plunged 33 percent and New Jersey’s unemployment rate is a startling 16.6 percent, as budgeted state and local revenues are hemorrhaging. COVID-19 has made matters far worse and the budgetary pains and economic slowdown will be significant and sustained under any scenario. Our state and local elected officials must now make difficult decisions that do not jeopardize our future.

To help us better understand these issues, I consulted with noted fiscal expert Richard Keevey, former budget director and comptroller for New Jersey under two governors, and Mark Pfeiffer, senior policy fellow and assistant director with the Bloustein Center for Local Government Research at Rutgers University. Both have extensive experience with public policy and fiscal issues at the local, state and national levels.

Real Estate New Jersey, August 13, 2020

Recent Posts

Report Release: R/ECON Forecast Summer 2025

Read Report R/ECON’s economic forecast for New Jersey as of mid-2025 continues to show a slowing trajectory. Annual GDP growth is projected at just 0.5% for 2025, significantly lower than in prior forecasts and markedly below the national rate of 1.5%. Growth will...

New Publication from Payne: Digital Twin or Digital Kin?

Digital Twin or Digital Kin: Misunderstandings and Myths about Urban Simulation, and Directions for Change Abstract Using three case studies from the United States and Australia, this article explores the conditions required to make urban digital twin projects...

Prof. Clint Andrews Receives IEEE PES Robert Noberini Award

On July 29, 2025, Professor Clint Andrews received the IEEE PES Robert Noberini Distinguished Contributions to Power Engineering Professionalism Award. The award was established to honor PES members in the power engineering profession for long-term dedicated effort...

Heldrich Report Examines Effect of New Jersey TAG Program

Researchers from the Heldrich Center for Workforce Development analyzed the impact of financial aid on student success. A new report, Building a Comparison Group for Tuition Aid Grant Recipients Using the New Jersey Statewide Data System, examines the effect of the...

NJSPL: Report of Child Well-Being in New Jersey

by Angie Nga Le The Annie E. Casey Foundation has released its 36th Kids Count Data Book, providing updated insights into the well-being of children in New Jersey and across the nation[1]. The report assesses child well-being in all 50 states using 16 key indicators...