correlates roughly with
http://www.cnbc.com/2016/01/19/heres-your-share-of-state-pension-shortfalls.html
The article indicates NJ only paid 19% of what was necessary for the pensions; Chris Christie refuses to raise taxes to contribute more (since that would speed up the exodus of American taxpayers and employers from the state). It is impossible to lure businesses from other areas, or encourage start-ups, when savvy businessmen understand they are just buying a share in a massive IOU.