Gross State Product for 2023

The US Bureau of Economic Analysis (BEA) released its Gross State Product (GSP) data for 2023 on March 29, 2024.

Usgovernmentspending.com has updated its individual state GSPs for 2023 for each state using the projected national GDP numbers from Table 10.1 in the Historical Tables for the Federal FY2025 Budget and the historical GDP data series from the BEA as a baseline.

Click here to view a complete list of US states and their 2023 GSP growth rates.

Process:

1. Click on link.
2. Click on "Interactive Data" link
3. Click on "Interactive Tables: GDP by State" link
4. Click on "Annual Gross Domestic Product (GDP) by State"
5. Click on "Summary Tables for GDP, personal income, and related data."
6. Click on "SASUMMARY"
7. Area: Select "All Areas"
8. Statistic: Select "Real GDP..." and "Current-dollar GDP..."
9. Click on Next Step button
10. Time Period: Select "All Years"
11. Click on Next Step button
12. Click on Download button
13. Select CSV 

Medicare/Social Security 2024 Trustee Reports Released

On May 6, 2024, the Center for Medicare Services released its annual Medicare Trustees Report, which projects Medicare spending out to 2095.  As in the past, the report shows that federal health-care programs will eat the budget.

In this report the Trustees forecast that Medicare will top out at a little above 6 percent of GDP in the 2080s.

On June 1, 2024, usgovernmentspending.com updated its chart of the Medicare Outlook here based on data in the 2023 Medicare Trustees Report.  You can download the data and also view selected Medicare Trustee forecasts going back to 2005.

On May 6, 2024, the Social Security Administration released its annual OASDI Trustees Report, which projects Social Security spending out to 2095.  As in the past, the report shows that Social Security spending will max out at about 6 percent of GDP. UsGovernmentspending.com uses the Supplemental Single Year Tables.

On June 1, 2024, usgovernmentspending.com updated its chart of the Social Security Outlook here based on data in the 2024 OASDI Trustees Report.  You can download the data and also view selected OASDI Trustee forecasts going back to 1997.

Federal Budget for FY25 Released

On March 11, 2024, we updated usgovernmentspending.com with the numbers from the Public Budget Database in the Budget of the United States Government for Fiscal Year 2025. 

Here is how headline budget estimates for the upcoming FY 2024 fiscal year have changed since the release of the FY 2024 budget a year ago in Winter 2023.

Federal Budget Changes for 2024

$ billion	Estimate for 2024 in FY2024 Budget	Estimate for 2024 in FY2025 Budget	Change
Federal Outlays	$6,371.8	$6,940.9	+$569.1
Federal Receipts	$4,802.5	$5,081.6	+$279.1
Federal Deficit	$1,569.4	$1,859.4	+$290.0

You can see line item changes from budget to budget here. You can compare budget estimates with actuals here.

Account level spending estimates through FY 2029 come from the Outlays table in the Public Budget Database and were updated on usgovernmentspending.com on March 11, 2024.

Account level budget authority estimates through FY 2029 come from the Budget Authority table in the Public Budget Database and were updated on usgovernmentspending.com on March 11, 2024.