New Jersey proves that a big public sector, high taxes & high spending does NOT lead to fast or sustainable economic growth or act as a buffer against economic downturns/private sector crashes...
New Jersey didn’t even have a big housing market crash like Arizona, or Nevada, Florida, etc—did.
Too many politicians in New Jersey come from highly urbanized areas with immense social service demands which nonetheless no longer generate any revenue.
Camden, Trenton, New Bruswick, Patterson, Passaic, - all once HOTBEDS of economic activity, business and manufacturing production (Colt made his first revolver in Patterson) are now for all intents and purposes, third world ecnomic backwaters ridden with crime, poverty and hopelessness. The hallmarks of an unending succession of corrupt Democrat administrations. These politicians lack any economic or business sense.
With the last governor, they got a slick Wall Street Stock seller and now they have a hamfisted Prosecutor of questionable personal stability. They need somebody who understands business, how to attract businesses and how to keep business and it all has to do with LOWER taxes and REDUCING the incredible burden of unnnecessary regulations.
Even the idiot in New York - Cuomo - realizes this. He has offered a ten year tax break for any new businesses in that state.
But the voting blocks that power the politics of that state are overwhelming poor, minority, entitled, ignorant, Democrat, and urban. They want what they want and can’t see the forest for the trees.