The latest report indicates that New Jersey’s already considerable pension woes are getting worse. According to a report published in multiple newspapers throughout the state, the teachers’ state pension fund is now under-funded by $10 billion. Some back-of-the-envelope math (using the U.S. Census 2005 American Community Survey) indicates that plugging the hole will take an extra $3,180 in taxes from every household in the state.

Click here to read about a few of Newark’s unionized teachers who started drawing their pensions a little earlier than planned.