Friday, June 22, 2012

Gross State Product Update for 2011

The US Bureau of Economic Analysis released its Gross State Product (GSP) data for 2011 on June 5, 2012. has updated its individual state GSPs for 2011 and projected nominal and real GSP through 2017 for each state using the projected national GDP growth rates from Table 10.1 in the Historical Tables for the Federal FY2013 Budget as a baseline.
As before we have projected individual state GSPs by applying a factor to reflect each state's deviation from the national growth rate. (E.g. In 2011 the national real GDP expanded by 1.7 percent. But North Dakota grew by 7.6 percent, a deviation of nearly 6 percent. The deviation is reduced by 40 percent for each year after 2011, assuming that each state will slowly revert to the national norm.)
Click here to view a complete list of US states and their 2011 GSP growth rates.

Tuesday, June 5, 2012

CBO Long Term Budget Outlook Updated

On June 5, 2012, the Congressional Budget Office released its annual Long Term Budget Outlook, which projects federal spending and revenue out into the 2080s.  As before, the CBO study shows that federal health-care programs will eat the budget. 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 2005.