With a projected shortfall for the upcoming biennium of somewhere around $3 billion, Nevada's budget is in serious trouble. However, the latest concept for federal bailout money is aimed at providing fiscal relief to beleaguered states, by way of payments Medicaid payments that are otherwise a serious drain on a state budget.
Under the Recovery Act, Nevada received around $450 million to help with Medicaid payments. The current legislation proposes $16.1 billion nationwide. Although Nevada's ultimate share is unknown (and is of course dependent on the bill passing Congress in the first place), most will view any help as better than no help at all.
Perhaps the biggest beneficiaries of the proposed legislation will be the gubernatorial candidates, who may be able to postpone decisions on some tough budget cuts while the legislation winds its way through the capitol.
It concerns me that the State is already counting on this money to off-set the budget shortfall. One of the cardinal rules if budgeting- whether for a household or government, is you don't spend money you don't have. The state of Nevada should not count on this money-especially given our track record of getting the short end of the stick in federal relief funds.
Posted by: Miss Crouse | 08/02/2010 at 10:42 AM
Yes i agreed with above comments. The state of Nevada should not count on this money-especially given our track record of getting the short end of the stick in federal relief funds. Thanks.
Posted by: Danny DeMichele Entrepreneur | 03/01/2011 at 05:15 AM