The benefits of budgeting at any level depend on being realistic. A family or a government that plans to spend more money than it is likely to have just asks for trouble.
The poor fiscal condition of New Jersey state government makes realistic budgeting more critical. Yet state law puts revenue forecasting in the hands of just the governor’s office.
That makes it more subject to partisan influence, with biased forecasts supporting tax increases or tax cuts, and always more spending. Unilateral action also insulates the revenue forecast from the sort of…