Escalating War Of Words Over Atlantic City's Future As Resort Town Teeters On Brink Of Bankruptcy

EWING TOWNSHIP, NJ (CBS) -- The stalemate over a rescue plan for Atlantic City continues, with nothing but a war of words between New Jersey Governor Chris Christie and the state Assembly Speaker.

The resort town's government could run out of cash next week without a bailout of some sort. Christie told reporters at an event outside Trenton on Wednesday that he's waiting on Speaker Vincent Prieto to do something. But Prieto won't move a state takeover bill passed by the Senate that the governor would sign, while clearly lacking the votes for an Assembly alternative that Christie would veto.

"I want to save Atlantic City. The Senate President wants to save Atlantic City and I think a majority of the state legislature wants to." Christie said. "But the speaker is bringing nothing to the table."

In a printed response, Prieto contends Christie's "rhetoric is boring, tired and unproductive" and insists the Assembly's input must be included in any plan to help Atlantic City. "The Governor can preen all he wants," the statement says, "but while he does the Assembly continues working toward a compromise."

Prieto had promised a vote on his alternative for the second time in a week Wednesday, but he failed to hold a voting session as promised.

A spokesman for the Speaker said no vote would be held while negotiations were going on within his caucus. The Speaker tried to gather the required 41 votes on his alternative that would phase in a state takeover and protect municipal labor union contracts in Atlantic City for two years. But after more than 6 hours, he abruptly cancelled the session with no vote ever taken.

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