Las Vegas Sun

April 28, 2015

Currently: 64° — Complete forecast | Log in | Create an account

Checking Back:

Welcome to the rolling disaster that is Nevada’s budget

They looked ahead. Did they hit the jackpot?

Welcome to the rolling disaster that is Nevada’s budget. The state is on pace to cut $1.5 billion from its budget before the end of the year and its had to do the cutting in chunks. Why? Because nobody so far has been able to see the bottom of the well we’ve fallen down.

All of the economists who gave us information predict 2007 is going to be a year where the economy slows throughout the country and Nevada. Then we will see a pickup in 2008-09.

— Deborah Pierce, Economic Forum chairwoman and chief financial officer, Hooters Hotel, Las Vegas, November 2006 (Review-Journal)

Analysis: The Economic Forum’s forecast was used to draw up the 2007-09 budget. The Legislature has since had to cut $1.2 billion because revenue fell short and is going to have to cut another $300 million by the end of the year. The Economic Forum has revised its forecast downward three times since then.

<br clear="left" />

$565 million

— Amount Gov. Jim Gibbons and the Legislature cut from the budget in late 2007

$350 million

— Amount Gibbons and the Legislature cut from the budget in April

We have done the work necessary to make sure we meet the requirements of balancing the budget.

— Gov. Jim Gibbons, April 9. (Reno Gazette-Journal)

Analysis: A short seven months later and the shortfall is half again what’s been cut: $1.5 billion.

<br clear="left" />

$250 million or $243 million or $94 million (Review-Journal)

— June shortfall as projected by the Economic Forum, state Budget Director Andrew Clinger and legislative fiscal analysts, respectively

Analysis: Too low, all

<br clear="left" />

$275 million

— Amount Gibbons and the Legislature cut from the budget in June

The state needs to cut another $250 million.

— Nevada Economic Forum, Nov. 6 (Review-Journal)

The state needs to cut another $300 million

— Clinger, state budget director, Nov. 9. (Sun)

Analysis: Who knows? On average, Nevada has had to cut its budget every four months since it was drawn up in June 2007. Can we make it until June 2009 without more?

Join the Discussion:

Check this out for a full explanation of our conversion to the LiveFyre commenting system and instructions on how to sign up for an account.

Full comments policy

Previous Discussion: comments so far…

Comments are moderated by Las Vegas Sun editors. Our goal is not to limit the discussion, but rather to elevate it. Comments should be relevant and contain no abusive language. Comments that are off-topic, vulgar, profane or include personal attacks will be removed. Full comments policy. Additionally, we now display comments from trusted commenters by default. Those wishing to become a trusted commenter need to verify their identity or sign in with Facebook Connect to tie their Facebook account to their Las Vegas Sun account. For more on this change, read our story about how it works and why we did it.

Only trusted comments are displayed on this page. Untrusted comments have expired from this story.

No trusted comments have been posted.