NEWSMAX: The study, released this week by the Mercatus Center at George Mason University, reviewed the comprehensive annual financial reports (CAFRs) for fiscal year 2012 for all 50 states…
The Garden State also has per-capita long-term liabilities of $7,935, nearly three times the national average. Its “net asset ratio” is -1.33, also the worst in the country.
The study’s author, Sarah Arnett, writes that New Jersey ‘s problems result from “tax revenues [that] have not kept up with expenditures, use of budget practices that only appeared to balance annual budget, and significant debt levels.” … (more)
EDITOR: We are baffled by the proclivity of NewsMax, a very popular conservative website, to continuously run articles embarrassing to Gov. Chris Christie. Is this pay back for Christie buddying up with President Obama prior to the 2012 election?
