Report claims New Jersey is 10th worst-run state

A new analysis describes New Jersey as 10th-worst-run state in the country.

24/7wallst.com Editor in Chief Douglas McIntyre says a lot of the problems are about our financial condition. The site's ranking looked at is state budget "because that's a direct indication of something that the state obviously controls," he said.

It said New Jersey's the second-worst ranked state at funding its pension -- potentially compromising the both future of young workers and New Jersey's credit ratings. Its one-year gross domestic product ranked 19th lowest.

McIntyre says New Jersey's pension and rainy day fund are not in good shape, but also, "the things that New Jersey does wrong mostly have to do with how Wall Street looks at the state's credit rating."

New Mexico came in first in the 247wallst.com analysis as the worst-run state. Utah came in tops as the best-run state.

Joe Cutter is the afternoon news anchor on New Jersey 101.5