New Jersey has huge, possibly dangerous, levels of debt, a new report says, but most state officials won’t discuss it. Each Garden State taxpayer owes tens of thousands of dollars and is in a tax “sinkhole,” but so are many other Americans, according to the report. That is because New Jersey leaders of both parties have overspent and used accounting “gimmicks” for decades. “New Jersey receives an F in finances,” Bill Bergman, director of research at the non-profit organization Truth in Accounting (TIA) told The Epoch Times. The TIA report said that New Jersey “had $31.7 billion available to pay $216.9 billion worth of bills. The outcome was a $185.2 billion shortfall.” As a result, taxpayers in the state are “on the hook for $58,300 as of fiscal year 2020.” The state, the report concluded “remains in abysmal fiscal health and had no money set aside to weather the current …