Thursday, January 19, 2017

The Feds Borrow More Than The "Deficit"

People naturally assume that the annual Deficit is the total that the Federal government borrows each year. Actually this is not so. The Deficit is simply the difference between Federal Outlays and Federal Receipts. Usually, the Feds borrow a lot more than the official Deficit.

Like below, in $ billion:

YearGross
Debt
Debt
Increase
Federal
Deficit
Other
Borrow
2000562924-236259
20057905551318232
20101352916531294359
20111476412351300-64
20121605112871087200
201316719669680-11
2014177951075485590
201518120326438-113
2016195371417587830

We have provided the difference between the Debt increase and the Deficit for each year under "Other Borrowings" on the Spending Details page. To Recap:

Other Borrowings = (Increase in Federal Debt) - (Official Deficit)

Monday, December 26, 2016

US, State Population Update for 2016

On December 19, 2016 the US Census Bureau released its US national and state population estimates for July 1, 2016.  On December 26, 2016 usgovernmentspending.com updated its US and state population data as follows:
  • We updated 2010-2016 population data for US and states using data from US Census Bureau Population Estimates: vintage 2016 in file nst-est2016-01.xlsx.
  • We projected 2017 thru 2021 for US and the states assuming population rate change for 2015-16.
  • We updated 2017 thru 2021 for US only using data from US Census Bureau 2014 National Population Projections in file NP2014-T1.xls.
usgovernmentspending.com uses population data in computing per capita spending and revenue data. You can see per capita spending data in a chart here, and in a table of spending here.

You can check the data update schedule here.

Saturday, December 10, 2016

State and Local Finances for FY 2014

On December 10, 2016 we updated the state and local spending and revenue for FY 2014 using the newly Census Bureau State and Local Government Finances summaries for FY 2014 released on December 9, 2016.  This includes state and local spending for the United States as a whole and individual states and the District of Columbia.

State and local spending and revenue for FY2014 are now actual historical spending as reported by the Census Bureau.  Previously state spending and revenue for FY2014 was actual, and local spending and revenue was estimated.  The following table shows the difference between estimated and actual local spending and revenue for FY2014:

FY 2014Estimated
$ billion
Actual
$ billion
Local Spending$1,701$1,707
Local Revenue$1,252$1,169

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

FY 2012
Previous
$ billion
FY 2012
Latest
$ billion
FY 2013
Previous
$ billion
FY 2013
Latest
$ billion
State Spending$1,500$1,497$1,517$1,517
Local Spending$1,647$1,650$1,684$1,658
State Revenue$1,373$1,366 $1,666$1,666
Local Revenue$1,076$1,077 $1,169$1,155

We have updated the "guesstimated" state and local finances for FY2015-21 as indicated in our "guesstimate" blog entries.