AbstractThe three states of Connecticut, New Jersey, and New York encompass not only one of the greatest concentrations of affluence in American, but of global wealth as well. Moreover, this tri-state affluence has an even smaller geographic footprint and is centered in a cluster of wealthy counties in the metropolitan region surrounding and including New York City. Recent volatility in New York City--stemming from overdependence on cyclical Wall Street-generated income--and in New Jersey, where income growth sagged badly in its affluent counties during the 2000-02 post-bubble economy--contributed significantly to revenue shortfalls and ongoing fiscal stress.
SubjectsNew Jersey, New York, Connecticut, United States--Appropriations and expenditures, Municipality, Economy, State, Tri-state, Wealth, Taxation, Federal spending, Income tax, Revenue, Expenditures, Public
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