New study uses Connecticut as a warning for New Jersey on the perils of pensions and raising taxes
There are only a few states that generally rank lower than Connecticut in terms of fiscal stability and outlook and New Jersey is usually one of them. Like Connecticut, New Jersey is saddled with high taxes, major pension problems and fiscal mismanagement, but a new study released by the Garden State Initiative uses Connecticut’s history of raising taxes to solve those problems as a “cautionary tale."