It's hard to get accurate data about our local recycling rates but we are probably around 10% recovery of recyclable materials. The Phoenix area is over 20%, thanks in part to composting. So what would it take to be a leader? Here's an article that claims 50-80% is a reasonable goal with existing technologies.
What can you do? Separating is key. When you take your recyclables to a Sedona Recycles drop off site, they get around a 98% recovery rate (note this only includes recyclables--not compostables). Waste Management's recycling rate is reportedly around 80%. Haulers that have your throw trash and recyclables into one bin are doing well if they can recover 20%. Until we have a compostables pick-up service, compost at home.