According to this survey by 24/7 Wall St. New Jersey ranks 43 out of 50 on the bad list. What does this mean for Governor Christie’s presidential ambitions?
And I quote:
43. New Jersey
> Debt per capita: $7,287 (5th highest)
> Credit Rating (S&P/Moody’s): A+/A1
> 2013 unemployment rate: 8.2% (10th highest)
> Median household income: $70,165 (3rd highest)
> Poverty rate: 11.4% (8th lowest)
New Jersey is one of only a handful of states where debt exceeded the state’s fiscal 2012 revenues. The state reported $7,287 in debt per capita in fiscal 2012, among the highest figures nationwide. Due to its difficulties in maintaining a balanced state budget, Moody’s awarded New Jersey among the lowest ratings of any state, as well as a negative outlook. On the other hand, New Jersey residents are among the nation’s wealthiest. A typical household earned more than $70,000 in 2013, higher than the median household income in all but two other states. A typical New Jersey home was also worth well over $300,000 in 2013, versus the national median home value of $173,900. However, residents may not be as well off as they seem as the cost of living in New Jersey was 14% higher than the rest of the country in 2012, the third highest cost of living nationwide.
The reporters were on 24/7 Wall St.
Only Georgia, Arizona, Kentucky, Rhode Island, Mississippi, New Mexico, and Illinois ranked lower than NJ, and Pennsylvania was #36.
Princeton Comment 