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FACT BRIEF

Does Nevada have nearly $30 billion in total government debt?

By Todd Butterworth
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YES

In 2021, Nevada had state debt totaling $3.59 billion and local government debt of $25.35 billion, equaling $28.94 billion.

Distributed equally among Nevada's population, that's $9,205 per resident — below average among states. New York had the highest per capita government debt at $18,411, and Wyoming the lowest at $3,437.

Rating agency S&P Global gave its second highest rating, "AA+/stable," to the bonds of the State of Nevada and Clark County. The agency considers Nevada's financial management practices "good but not comprehensive."

The Nevada Constitution limits state borrowing and requires an annual balanced budget and a two-thirds vote of the Legislature for tax increases. In 2022, the state projected to add $387 million to its Rainy Day Fund, and Gov. Joe Lombardo has proposed adding $630 million more.

This fact brief is responsive to conversations such as this one.
Sources
Statista Nevada: state and local government debt FY 2027
Census Bureau Quick Facts: Nevada
Governing State and Local Governments With the Most Debt Per Capita
S&P Global Nevada; Appropriations; General Obligation
S&P Global Guide to Credit Rating Essentials
Clark County Debt Management Policy
KOLO-TV Read the Governor’s full State of the State address
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The Nevada Independent
The Nevada Independent is a nonpartisan, nonprofit news and opinion website founded in 2017 by veteran political journalist and commentator Jon Ralston. The site and its supporting channels are focused on ethical, unbiased and transparent journalism. In general, we aim to gather and disseminate important public information and increase civic engagement. We are supported by corporate donations, memberships, event ticket sales and sponsorships and foundation grants. We disclose all our members and donors. Donors have no influence over our content, ever. The Nevada Independent is the dba for Nevada News Bureau, Inc., a 501(c)3 nonprofit founded in 2010 by Elizabeth Thompson, who now serves as one of The Nevada Independent's managing directors and its Editor.
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Fact briefs are short, credibly sourced summaries that offer “yes/no” answers in response to claims found online. They rely on publicly available, often primary source data and documents. Fact briefs are created by contributors to Gigafact —a nonprofit project looking to expand participation in fact-checking and protect the democratic process. See all fact briefs here.