The Extravagance of NJ TIFs

I wrote Who finances Atlantic City casino construction? which appears at Examiner.com. The article contains this paragraph:

Tax Increment Financing, known by the acronym TIF, refers to the type of legal provisions that could benefit Revel. TIFs are mechanisms used by government to help finance community or redevelopment projects. New Jersey and 47 other states have TIFs but New Jersey is noted for the large amounts of money made available by this type of finance facilitation. Tax Increment Financing money can fund as much as 20 percent of the cost of a project in New Jersey.

Unfortunately in so many negative ways New Jersey leads the other states of the nation. In particular the tendency to disrespect the state treasury through overspending is endemic to this state and, at this point in history, the nation as a whole.