Asbury Park Press: N.J., The Sinkhole State — your cost $34,600
We’ve been called a lot of things but to my memory, this is the first time we’ve been The Sinkhole State. I would have guessed Florida or somewhere the roads keep caving in. But this is about finances. The non-partisan Institute for Truth in Accounting in Chicago took a look at our finances: “While New Jersey has $74 billion worth of assets, less than $24.2 billion are available to pay $130.8 billion of bills as they come due. Each taxpayer’s financial burden is $34,600.” That makes us one of the five worst states although many of the 50 are in trouble. The other four in there with us are Connecticut, Illinois, Hawaii and Kentucky. The other end of the spectrum are The Sunshine States. Wyoming, North Dakota, Nebraska, Utah and South Dakota are in that crowd. The per taxpayer burden is low or nonexistent.
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