Nevada’s Economy: Reducing the U.S. Government’s Budget Deficit

Nevada's Economy- Reducing the U.S. Government's Budget Deficit

In recent months, we have heard quite a bit about the importance of reducing the U.S. government’s budget deficit and about the necessity of raising the debt ceiling.  These two ideas are related because a budgetary deficit means that government spending is more than revenues, and the government must borrow the difference.  As long as the federal government runs a deficit, its indebtedness continues to grow.  Because the federal government has set a ceiling on the amount of debt it allows itself to have, it is occasionally forced to raise the ceiling to accommodate its accumulating debt.  Such an occasion gives us a time to pause and consider the directions of government spending, revenues and the rate at which the U.S. government debt is accumulating.

Read the entire report: Download Nevada Economy June 2011

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