Saying things have gone from bad to awful, Nevada Gov. Jim Gibbons convened an emergency budget meeting with legislative leadership and other elected officials and said the state may try tobacco bonding its way out of the hole.

“I believe we are in the midst of the worst fiscal crisis in the state’s history,” Gibbons said in a statement Wednesday, when he announced yesterday’s meeting. “It’s important that all state leaders are on the same page about where we stand, and together we consider our options moving forward.”

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