Like almost every other state in the union, New Jersey is in bad shape. Revenues are down. Unemployment is up. A state deficit is looming. Taxes are high, and more borrowing is taboo. Unfortunately for Gov. Jon Corzine, it is also election time. Mr. Corzine, a Democrat, has struggled through his first term, partly because of a legislature that will not make the tough decisions. He still has lessons to learn about communication and leadership, but he is a better choice for New Jersey voters than either of his challengers. He has earned another four years to deal with the state’s budget problems and culture of corruption.

Despite his support from President Obama, Governor Corzine faces two formidable opponents who have made the most of his stormy first term. The Republican,...