New Hampshire and Nevada in 1992

[kcguy]

I went back and read some books from the 1990's.

For New Hampshire, it's fairly straightforward.  New Hampshire was in a housing bubble in the late 1980's.  Then, the state was especially hard hit by the 1990-91 recession.  New Hampshire, which doesn't have an income tax, was facing huge budget shortfalls, so property taxes were doubling at the same time property values were halving.  Then, on top of everything, Bush broke his "read my lips, no new taxes" pledge.  1992 was a good year not to be the establishment party.

For Nevada, nobody was sure, since the 1992 result came as a surprise to everyone.  One theory is that the Republicans' then-recent turn to "family values" didn't play well in a state known for gambling and prostitution.