Tuesday, October 10, 2017

State and Local Finances for FY 2015

On October 10, 2017 we updated the state and local spending and revenue for FY 2015 using the new Census Bureau State and Local Government Finances summaries for FY 2015 released on September 7, 2017.  This includes state and local spending for the United States as a whole and the 50 individual states and the District of Columbia.

State and local spending and revenue for FY2015 are now actual historical spending as reported by the Census Bureau.  Previously state spending and revenue for FY2015 was actual, and local spending and revenue was estimated.  The following table shows the difference between estimated and actual local spending and revenue for FY2015:

FY 2015Estimated
$ billion
Actual
$ billion
Local Spending$1,701$1,763
Local Revenue$1,268$1,206

The Census Bureau has also updated state and local finances for 2012, 2013 and 2014, as follows:

FY 2012
Previous
$ billion
FY 2012
Latest
$ billion
FY 2013
Previous
$ billion
FY 2013
Latest
$ billion
FY 2014
Previous
$ billion
FY 2014
Latest
$ billion
State Spending$1,497$1,497$1,517$1,517$1,552$1,550
Local Spending$1,650$1,651$1,658$1,662$1,707$1,711
State Revenue$1,366$1,366$1,666$1,668$1,811$1,814
Local Revenue$1,077$1,077$1,155$1,155$1,221$1,229

We have updated the "guesstimated" state and local finances for FY2016-22 as indicated in our "guesstimate" blog entries.

Monday, September 25, 2017

State FY17 Taxes Update

On September 25, 2017 usgovernmentspending.com updated FY2017 state revenue with quarterly tax data released by the US Census Bureau on September 19, 2017.  Local tax data was updated by assuming that local taxes for 2017 changed by the same percent as state taxes of the same type.

State and local spending projections for FY2018 to FY2022 have been reestimated using the "Guesstimate" method.

Tuesday, July 25, 2017

CBO Long Term Budget Outlook for 2017

On March 30, 2017 the Congressional Budget Office released its annual Long Term Budget Outlook for 2017, which projects federal spending and revenue out into the 2040s.  As before, the CBO study shows that federal health-care programs will eat the budget, with federal spending exceeding 28 percent GDP by mid century while federal revenue stays below 20 percent GDP.

UsGovernmentspending.com has updated its chart of the CBO Long Term Budget Outlook here.  You can download the data and also view CBO Long Term Budget Outlooks going back to 1999.