New Jersey would need $58,700 from each of its taxpayers to pay all of its bills.
New Jersey has been near the bottom of the list every year the report has been produced and was the only state to experience a decrease inThe report from the watchdog group found that the amount of money needed to pay bills increased by more than $12.5 billion and New Jersey had $43.4 billion available to pay $241.1 billion worth of bills.
New Jersey swapped spots with Connecticut, which moved up to 49th worst. New York came in at 42nd on the list.The report found that at the end of the fiscal year 2021, 31 states did not have enough money to pay all of their bills. This means that to balance the budget—as is required by law in 49 states, elected officials have not included the true costs of the government in their budget calculations and have pushed costs onto future taxpayers.
Three states received A’s, 16 received B’s, 11 received C’s, 14 received D’s, and six states received failing grades.
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