And downgrading bonds is proof of good fiscal policy:
Well, I'll bet their towns just can't wait to pay more to borrow, can they?
Were I a snarky bastard, I'd point out that Mrs. Christie works on Wall Street, as does the governor's brother, Todd. Downgrading bonds leads to higher yields, and potentially bigger fees for underwriters.
As Paul Krugman reminds us today, interest rates are at historical lows. There really is no excuse for localities to pay more in interest in this climate.
So let's stop the nonsense, Star-Ledger and others, that Chris Christie is somehow "courageous" in tackling the budget. He has passed on the hard choices to the towns and cities and schools, all while giving tax gifts to the wealthiest residents of the state. Those towns and schools - many of which have been run with good fiscal oversight - are now paying the price for Christie's refusal to actually lead.