economic inequality in new jersey

The reports paint a bleak picture about the state of New Jersey and the fundamental problems it’s facing budget deficits, social inequality, decreasing income, decreasing tax revenues, increasing college expenses, failing to recover from the recession are all part of the problem were some the problems discussed in the reports. All these are some of the reasons cited as why there is a high number of outward migration from New Jersey. The most striking problem seen in the report that attracted my attention was the economic state of the state as if this keeps up the state would be essentially bankrupt in the foreseeable future.

 Although median household is almost 70,000 $ which is considerably higher than the national average the state financial condition is in pretty bad shape and the value of the state bonds is valued second lowest which is just above Ilinois. If the economic state of New Jersey does not improve it will essentially hit the social programs needed to help the middle class and the vulnerable sections of society like the poor. This would lead to more uncertainty and more social inequalities that could develop as state government programs could go bankrupt.