{"id":1799924,"date":"2023-01-09T11:35:14","date_gmt":"2023-01-09T16:35:14","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1799924"},"modified":"2023-01-09T11:35:16","modified_gmt":"2023-01-09T16:35:16","slug":"new-jersey-rated-as-having-worst-fiscal-health-in-nation-for-13th-consecutive-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-jersey-rated-as-having-worst-fiscal-health-in-nation-for-13th-consecutive-year\/","title":{"rendered":"New Jersey Rated as Having Worst Fiscal Health in Nation for 13th Consecutive Year"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnew-jersey-rated-as-having-worst-fiscal-health-in-nation-for-13th-consecutive-year%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1799924&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/justthenews.com\/sites\/default\/files\/styles\/social_media_share\/public\/2020-03\/Screen%20Shot%202020-03-25%20at%201.54.21%20PM_0.jpg?h=38366fee&#038;itok=ZW6dN0r9\" class=\"ff-og-image-inserted\" alt=\"image\"   style=\"display:none\"><\/div>\n<p>(The Center Square) \u2014 New Jersey has the worst fiscal health in the nation, with billions of dollars in debt and not enough money to cover bills, according to a watchdog report.<\/p>\n<p>The latest Financial State of the States 2022 report from Truth in Accounting, placed the Garden State dead last among the top five &#8220;sinkhole states&#8221; for fiscal health, with an individual taxpayer burden estimated at nearly $59,000, the highest total for any state in the nation.<\/p>\n<p>It&#8217;s the 13th straight year New Jersey has been ranked last in the nation.<\/p>\n<p>The report&#8217;s authors gave New Jersey\u2019s financial condition an \u201cF\u201d grade due to excessive spending and the pension and healthcare debt. The group said the money needed by the state to pay its outstanding bills has increased by more than $12.5 billion in the previous fiscal year. Overall, the state&#8217;s outstanding bills add up to more than $241 million, the group said.<\/p>\n<p>New Jersey\u2019s financial position appeared to decrease in 2021, according to the <a href=\"https:\/\/www.truthinaccounting.org\/library\/doclib\/FSOS-2022.pdf\">report<\/a>. The decline will likely continue as federal pandemic aid dries up, and the market value of the state&#8217;s retirement system assets declines.<\/p>\n<p>&#8220;New Jersey had only set aside 47 cents for every dollar of promised pension benefits and one cent for every dollar of promised retiree health care benefits,&#8221; the report&#8217;s authors wrote. &#8220;Given these facts, the state\u2019s overall debt situation will likely further deteriorate over the coming year.&#8221;<\/p>\n<p>Republicans say the report highlights &#8220;reckless spending&#8221; by Democratic Gov. Phil Murphy&#8217;s administration which they say has added billions of local pork into the state budget.<\/p>\n<p>&#8220;What we\u2019re doing now is only digging a deeper hole,&#8221; state Senator Michael Testa said. &#8220;All this does is make an already unaffordable state even more unaffordable. We must chart a new fiscal course because New Jersey residents deserve better.&#8221;<\/p>\n<p>Testa and other Republicans have filed <a href=\"https:\/\/www.thecentersquare.com\/new_jersey\/new-jersey-lawmaker-seeks-to-rein-in-pork-barrel-spending\/article_50e6eca6-764d-11ed-86be-a7b30b739224.html\">legislation<\/a> to curtail the amount of earmarks going into the budget to require some funding to be distributed through competitive grants.<\/p>\n<p>\u201cSome of these payouts may be for worthy causes,&#8221; Testa said. &#8220;However, these awards should be transparent, competitive and merit based, but what we\u2019ve seen out of Trenton is secretive, arbitrary and unfair.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(The Center Square) \u2014 New Jersey has the worst fiscal health in the nation, with billions of dollars in debt and not enough money to cover bills, according to a watchdog report. The latest Financial State of the States 2022 report from Truth in Accounting, placed the Garden State dead last among the top five &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1799927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[14062,5458,7508,8973,4964,10340,11156,14061,3819,6044],"class_list":["post-1799924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-13th","tag-bongino","tag-consecutive","tag-fiscal","tag-health","tag-jersey","tag-nation","tag-rated","tag-report","tag-worst"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1799924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1799924"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1799924\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1799927"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1799924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1799924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1799924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}