All over but the shouting

New Jersey on the brink:

When Phil Murphy becomes New Jersey’s 56th governor on Tuesday, he’ll face a stark choice: Ship all new tax dollars to the state pension fund and freeze all other outlays — or sit back and watch the fund head to collapse.That’s the alarming bottom line in a new Manhattan Institute report by Steven Malanga and Josh McGee. Indeed, even with a virtually frozen budget, a healthy economy, a bullish stock market and tax hikes, it may simply be too late to save the fund.

I guess the sequence is Illinois first, New Jersey, parts of Texas, then all of California.