Nevada is suffering through the worst economic crisis in our state's history. Where our state leads the nation, we do so in unenviable categories: unemployment, foreclosures and bankruptcies. Our $6.5 billion state budget is projected to have a $3 billion deficit. Yes, you read that right -- Nevada can only fund a little over half of its current obligations.
This is because of the additional expenses that will be added to the budget in 2011. We should refuse to increase the spending when we are in this economic crisis.
He continues by saying,
Although an increase in economic activity in the private sector will certainly help Nevada's economy, it alone is not the solution. Neither is raising taxes or cutting $3 billion in spending (though undoubtedly some unnecessary spending must be cut).
I agree that another record tax increase in not the answer, but I do think that we should cut the budget to the 2008 budget figure of $2.8 Billion. We have to continue the pay freezes and one-day-a-month furloughs of state agencies and education until the economy improves.
We need to have the state post financial reports for each year on the internet in an easy to read format so that the actual figures are available to everyone.