The healthiest states, on the other hand, are those benefiting from the domestic energy boom, including Alaska and the Dakotas.

A new study on the fiscal condition of the 50 states ranks New Jersey dead last, citing revenue shortfalls, budget practices and high levels of debt .

The Mercatus Center at George Mason University released the study earlier this week. The center counts among its key backers the Koch family, and conservative financier Charles Koch sits on the center's board.

The author, Sarah Arnett, is an analyst at the Government Accountability Office (though the study was produced outside of her GAO work, the center said).

New Jersey ranked last in both budget solvency and long-run solvency, and in the bottom 15 in the other categories.

Alaska was first or second in three of four metrics, though it came dead last in service-level solvency.

(Read more: Top states ranked)

For a download of the full report click here.