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Moreover, the government's projected growth figures, released on Tuesday in the economic survey, show overly optimistic revenues ahead.
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The extra spending the Council is advocating is possible because of its more optimistic revenue forecasts.
"It was based on overly optimistic revenue assumptions and temporary revenue sources that pushed the problem into the future".
It was plagued from the start by overly optimistic revenue and freight traffic projections as well as construction cost overruns.
Pitches were peppered with jargon and cheerfully optimistic revenue projections, though not always a clear indication of the product or service on offer.
The state's two systems were each cut by $650 million, and they each could lose $100 million more if the state's optimistic revenue expectations do not materialize.
It will be months before it is clear whether the agreement's optimistic revenue projections are true and the budget is really balanced.
With the 'devil in the detail', there's always a risk that a euro-zone relapse exposes the OBR's optimistic revenue projections.
Optimistic revenue projections have troubled the Legislature for the last several years, as the state has grappled with a financial crisis of a seriousness not seen since the Great Depression.
And the two big credit-rating agencies, Moody's and Standard & Poor's, have recently issued warnings about New Jersey's budget situation, which S.& P. called "structurally unbalanced" because of the governor's optimistic revenue assumptions.
LOS ANGELES — Gov. Jerry Brown of California and the Democratic-controlled Legislature have reached a tentative deal on the state budget, relying on more optimistic revenue predictions to add $4 billion to next year's budget.
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