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Murphy’s dire predictions on how coronavirus would wreck N.J. finances far from what’s actually happened so far Updated Dec 15, 2020; Posted Dec 13, 2020 New Jersey Gov. Phil Murphy delivers his Fiscal Year 2021 Budget Address at Rutgers University s SHI Stadium in August, maintaining social distancing protocols and following CDC guidelines.Michael Mancuso | NJ Advance Media for NJ.com Facebook Share Starting in March and continuing over the turbulent weeks that followed, Gov. Phil Murphy predicted the coronavirus pandemic would plunge the state into fiscal and economic peril. New Jersey could lose $20 billion in revenue, maybe even $30 billion, the governor said. The state could run out of cash by fall. Two-hundred thousand public workers might be laid off. And, in the absence of a second federal stimulus package, funding for public schools may be slashed by $1 billion.

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