N.J. has fourth-highest debt among states
The 50 states are more than $4 trillion in debt, according to a new report, and New Jersey is among the worst offenders.
State Budget Solutions, a self-described nonpartisan nonprofit based in Virginia, calculated the debt of all 50 states and found a total of $4.19 trillion in red ink. California is the most indebted state — by far — but New Jersey ranks fourth, behind New York and Texas.
Bob Williams, president of State Budget Solutions, said the numbers indicate states are in the kind of trouble that can’t be fixed with budget gimmicks or political posturing. (Kaltwasser, NJBIZ)
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