We should care because we are paying for it. The people of New Jersey have approved only $3 billion of that $32 billion in debt. Debt is a policy decision, a decision driven by a priority of government. This plan proposes the people of New Jersey choose these priorities in the future.

Every man, woman and child in New Jersey owes $3700 toward paying off the debt.

If you add in the state's long-term obligations, that amount skyrockets to $16,000 per person!

This state is facing a financial crisis that affects each and every one of us - while fiscal solvency might not be your personal #1 priority, if we continue down this path, we won't be in a position to address any of the other issues that are important to us like new schools, open space or health care.

Sure, just like in our homes we should cut expenditures to meet our revenues - but that doesn't get us out of debt - just as paying only the minimum payment (interest) on your credit card doesn't mean that your balance goes down.

Unfortunately, the time is now to address this crisis. If we delay any longer, we are ensuring that the state will eventually go bankrupt under our current obligations.