(Trenton, NJ) -- Governor Jon Corzine orders his cabinet members to slice 400-million-dollars from the state budget, while warning state lawmakers to hold off on new state spending.
Governor Corzine calls the cuts "tough but necessary" to balance the state budget.
The governor says revenue projections for October are not meeting expectations, but the numbers have not been finalized.
The state Treasury Department has reported New Jersey is 190-million-dollars in the red through the first quarter of the current fiscal year.
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