There’s a new leader for the biggest municipal disaster: Nevada.The Foreclosure State’s projected budget deficit has more than doubled to $2.7 billion from $1.3 billion in November.
Assembly Speaker John Oceguera said last night the state could make the largest spending cuts and the largest tax increase in history and still not close the gap.
Nevada’s $2.7 billion deficit constitutes 54 per cent of last year’s budget. The next worst state is Illinois, with a 46 per cent gap, followed by New Jersey with a 38% gap.
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