Jim has been talking about the "chicken or the egg" argument in New Jersey and who is to blame for the state's financial woes.

(Kevin McArdle, Townsquare Media NJ)

This week, Assembly Speaker Vincent Prieto offered an alternative budget plan that included full payment of the state pension, raise corporate taxes and a millionaire's tax.

Prieto then uttered the now-famous phrase that "NJ does not have a spending problem, we have a revenue problem." That phrase is the exact reverse of what Governor Christie had said about the state in the past.

What do you think is the major problem about New Jersey?