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Carson City - So long, balanced budget. Hello, deficit spending. Legislators and Gov. Jim Gibbons announced on Tuesday a tentative agreement to bridge the state's $300 million budget shortfall by making $150 million in cuts and - to spare agencies even deeper cuts - borrowing $150 million from a local government investment account. If the plan is approved by the Legislature during a special session set for Dec. 8, it would be the first time since at least the Great Depression that Nevada has balanced its budget by borrowing money, according to state government observers.

Revises provisions relating to funds to stabilize the operation of local government.

The Sun reported last week on growing doubts among state and local politicians about the need for another quarter-cent sales tax increase sought by Metro Police to pay for more officers.