New Jersey Facing Economic Crisis In Wake Of Coronavirus Pandemic

Cleve Bryan reports.

SOME SECTORS OF OUR ECONOMYREOPEN BUSINESSES MUST DOEVERYTHING POSSIBLE TO KEEPEMPLOYEES AND CUSTOMERS SAFE.WE ALSO LEARNED TODAY NEWJERSEY IS LIFTING SOMERESTRICTIONS ON OUTDOORGATHERINGS AND CAMPGROUNDS AS WEHEAD INTO THE MEMORIAL DAYWEEKEND.BUT THE STATE IS FACING ECONOMICCRISIS."EYEWITNESS NEWS" REPORTER CLEVEBRYAN HAS THE STORY NOW FROMWASHINGTON TOWNSHIP.10 BILLION DOLLARS.THANKS A JAW DROPPING FIGURE.NEW JERSEY'S TREASURERDETAILING WHAT OFFICIALS ARECALLING THE FINANCIAL CRISISTHAT FOLLOWS THE COVID-19 HEALTHWITH REVENUES LIKE SALES TAXDOWN BY AS MUCH AS A THIRD THESTATE PROJECTS AT LEAST A TENBILLION DOLLAR DEFICIT OVER THENEXT 13 MONTHS.WITHOUT SIGNIFICANT FEDERAL AIDTHEY WOULD HAVE TO CUT PROGRAMSAND POSSIBLY FURLOUGH STATEWORKERS.I POINT THIS OUT NOT TO BE ADOOM SAYER BUT TO UNDERSCORESOME EXTREMELY DIFFICULTDECISIONS HAVE TO BE MADE INWEEKS AND MONTHS AHEAD.ECONOMIC PICTURE FOR STATE,LOCAL BUSINESSES AND RESIDENTSALL DEPEND HEAVILY ON THE SPEEDAND EFFECTIVENESS OF COVID-19RECOVERY.TO THAT END, GOVERNOR PHILMURPHY FURTHER EASEDRESTRICTIONS FRIDAY BY EASINGSIDE OF PERMISSIBLE OUTDOORGATHERINGS FROM TEN TO 25PEOPLE.IF YOU WERE LOOKING FORWARDTO GATHERING WITH YOUR NEIGHBORSFOR MEMORIAL DAY COOKOUT YOU MAYDO SO AS LONG AS SOCIALDISTANCING AND PERSONALRESPONSIBILITY REMAIN THE ORDEROF THE DAY.STATE OFFICIALS ARE NOTREQUIRING BUT STRONGLY ENCOURAGEEVERYONE TO WEAR FACE COVERINGSIN PUBLIC AS THEY TRY TO AVOID ARESURGENCE OF THE CORONAVIRUSWHICH, TO DATE, HAS KILLEDNEARLY 11,000 NEW JERSEYANS.AND THIS WEEKEND LET'S TAKEA MOMENT TO SAY A PRAYER FORTHEM AS WE REMEMBER OUR FALLENMILITARY HEROS ESPECIALLY.IN FOIGS TO LOOSENING OUTDOORGATHERING RESTRICTIONS TO 25PEOPLE, GOVERNOR SAID ALL PUBLIC