In the nearly three years since Nevada's economy crashed, lawmakers have scrapped together a patchwork of temporary fixes to the state budget, hoping an eventual recovery would rescue them from being forced to make permanent choices on how they tax and what they spend.
But the economy didn't get better. It got worse.
The US, State by State, most unfortunately, but according to the FORMULA of 2006 are going down. No amount of media hype can prevent this.
Jim,
The formula, above 10% of GDP, has not been repeated since the war-time spending of 1942.
Eric
US Federal Budget (Surplus or Deficit As A % of GDP, 12 Month Moving Average) and Gold London P.M. Fixed:
Source: rgj.com
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