Recovering from the Great Recession in the U.S. and Nevada
Recovering from the Great Recession in the U.S. and Nevada
Recovering from the Great Recession in the U.S. and Nevada
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5/23/2011<br />
10%<br />
Figure 3: <strong>Nevada</strong> Government Spend<strong>in</strong>g<br />
(as a share of Gross State Product)<br />
8%<br />
Share of Overall State Economy<br />
6%<br />
4%<br />
2%<br />
It is not just <strong>the</strong> General Fund…<br />
0%<br />
1975<br />
1977<br />
1979<br />
1981<br />
1983<br />
1985<br />
1987<br />
1989<br />
1991<br />
1993<br />
1995<br />
1997<br />
1999<br />
2001<br />
2003<br />
2005<br />
2007<br />
2009<br />
State & Local Government Output (BEA)<br />
General Fund Revenue<br />
University of <strong>Nevada</strong>, Reno Budget<br />
General Fund Expenditures<br />
Tax Burden (Tax Foundation)<br />
NSHE Budget<br />
31<br />
How does <strong>Nevada</strong> compare?<br />
• <strong>Nevada</strong> has <strong>the</strong> second-lowest tax burden <strong>in</strong> <strong>the</strong> country<br />
(Alaska’s was lowest, but <strong>the</strong>ir expenditures were much higher),<br />
<strong>and</strong> we export taxes to tourists.<br />
• <strong>Nevada</strong> has <strong>the</strong> smallest general fund <strong>in</strong> <strong>the</strong> country, as a share<br />
of GSP – less than 2.5%.<br />
• <strong>Nevada</strong>’s state government spent 6.4% of GSP <strong>in</strong> total, lowest <strong>in</strong><br />
<strong>the</strong> country.<br />
• Comb<strong>in</strong><strong>in</strong>g state <strong>and</strong> local government spend<strong>in</strong>g, <strong>Nevada</strong> spent<br />
12.4% <strong>in</strong> 2005, 38th <strong>in</strong> per-capita terms, 48th as a share of GSP.<br />
16
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