2008 Nevada Budget Crisis
The 2008 budget crisis in Nevada is an ongoing fiscal crisis in which the state faces a budget shortfall of at least $1.2 billion out of a $6.8 billion budget. The budget crisis is a result of the larger subprime mortgage crisis and the late-2000s recession.
The budget shortfall resulted in Governor of Nevada Jim Gibbons and the Nevada State Legislature making large cuts to many state programs and agencies.
Read more about 2008 Nevada Budget Crisis: Origins, Solving The Budget Crisis
Famous quotes containing the words budget and/or crisis:
“The United States is the only great nation whose government is operated without a budget. The fact is to be the more striking when it is considered that budgets and budget procedures are the outgrowth of democratic doctrines and have an important part in developing the modern constitutional rights.... The constitutional purpose of a budget is to make government responsive to public opinion and responsible for its acts.”
—William Howard Taft (1857–1930)
“In crisis is cleverness born.”
—Chinese proverb.