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 />
What about <strong>Nevada</strong>?<br />
• <strong>Nevada</strong> appears to have hit bottom, now show<strong>in</strong>g some signs of<br />
stabiliz<strong>in</strong>g <strong>in</strong> gam<strong>in</strong>g <strong>and</strong> sales.<br />
• But <strong>Nevada</strong> cont<strong>in</strong>ues to lose jobs, los<strong>in</strong>g people to match.<br />
• California is add<strong>in</strong>g jobs, which will help <strong>in</strong> <strong>Nevada</strong>.<br />
• <strong>Nevada</strong> under<strong>in</strong>vests <strong>in</strong> education <strong>and</strong> public <strong>in</strong>vestments, <strong>and</strong> is<br />
poised for more major cuts. Potential for bra<strong>in</strong> dra<strong>in</strong>.<br />
• People cont<strong>in</strong>ue to hope for one more magic bullet: green jobs,<br />
Yucca Mounta<strong>in</strong>, m<strong>in</strong><strong>in</strong>g severance tax, et cetera.<br />
So What Shall We Do?<br />
• <strong>Nevada</strong> is a low tax state, no matter what NPRI says.<br />
The projected budget gap is only 1% of GSP.<br />
• Basic state services necessary for a decent present, but<br />
education is necessary for our economic future.<br />
• We can trade reforms (e.g., collective barga<strong>in</strong><strong>in</strong>g,<br />
benefits, pensions) which reduce <strong>the</strong> growth of future<br />
spend<strong>in</strong>g <strong>in</strong> return for tax restructur<strong>in</strong>g now.<br />
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