Gov. Christie: We're Not Raising Taxes

New Jersey Governor Says He Has Residents Covered Through Fiscal Year 2011 Despite $800 Million Hole

How Did He Do This? Remember The Budget Freeze? Looks Like It Worked

On the surface the news looked pretty grim for Garden State residents on Tuesday – thanks to an unanticipated drop in tax revenues of $402 million this year and $365 million next year.

But a new budget hole of nearly $800 million is not going to give Gov. Christie a single new white hair. At least this time, the governor's message is "gotcha covered."

"We're very confident we've been able to close the additional budget gap in (fiscal year) 2010 and in (fiscal year) 2011 we're going to be able to solve that problem without any new taxes at all and without any real significant cuts," Christie said.

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