NJ has whopping 137,621 state employees. 4,496 of them make $100K and more.

NJ has whopping 137,621 state employees. 4,496 of them make $100K and more.

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Most States have Budget Deficits. 10 Worst States.

Study shows that 44 states plus Wash DC expect budget deficits. In other words, they don’t have enough money to pay their bills.

Here are the 10 worst states in terms of deficits as a percentage of overall budget:

State  –  2012 Projected Shortfall  –  Shortfall as Percent of 2011 Budget
1    Nevada     $1.5 billion     45.2%
2    New Jersey     $10.5 billion     37.4%
3    Texas     $13.4 billion     31.5%
4    California      $25.4 billion     29.3%
5    Oregon      $1.8 billion     25%
6    Minnesota     $3.8 billion     23.6%
7    Louisiana     $1.6 billion     20.7%
8    New York     $10.0 billion     18.7%
9    Connecticut     $3.2 billion     18%
10    South Carolina     $877 million     17.4%

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New Jersey in Budget Hell

In only 10 years the New Jersey budget  has doubled from $13 billion to $30 billion.

It has the highest property taxes in the nation.

It is receiving $667 bailout money from the US govt.

The state has a total state debt of $167.3 billion and is in deep financial trouble.

The state has a projected $10.5 billion deficit for 2012.

As much as Gov. Christie is doing, or says he’s doing, there is a very long way to go!

The state has a lot of govt union workers whose benefits and salaries are going to destroy the state if not fixed.

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Poll: Which state will go bankrupt first?