Murphy: Secret Statehouse bond sale ‘an insult and an exercise in arrogance’

Newark — Phil Murphy today released the following statement on the revelation that the state had surreptitiously, and without public knowledge, sold $300 million in bonds to finance the governor’s Statehouse renovation:

“Where the governor yesterday had next to no credibility to lecture residents on transparency and fiscal accountability, now he has absolutely zero. Saddling the state with up to $750 million in debt when we don’t even know what it is he’s paying for is an insult and an exercise in arrogance. Yesterday the governor said he ‘owns’ the state’s eleven credit downgrades. With this revelation today, he obviously takes great pride in that ownership. Unfortunately, it is the taxpayers of New Jersey who will be saddled with his disgraceful fiscal stewardship for generations to come.”