A State Budget Crisis Task Force report issued last week warns that New Jersey and other state governments face looming fiscal crises in the years ahead that will require revenues and cuts.
The report examined six states: New York, California, Illinois, Virginia and Texas, in addition to New Jersey. According to NJ Spotlight, the six states together make up for more than 35 percent of the nation’s population.
The report shows in comparison, New Jersey’s overall recovery from the job and revenue losses from 2007-2009, a time referred to as the Great Recession has been slower.
Below, we’ve listed five issues from the report.
What issues would you add to the list?Tell us in the comments below.
The graphic below shows how New Jersey compares with other states in employment change, taxes and revenue, pensions and debit, infrastructure and impact of potential federal cuts. The information used in the graphic is from the State Budget Crisis Task Force Report, issued July 17, 2012. (Graphic courtesy of NJSpotlight.com)