US, State Population Update for 2012

On December 20, 2012 the US Census Bureau released its state population estimate for 2012.  On December 22, 2012 usgovernmentspending.com updated its US and state population data as follows:

• We updated 2012 and 2012 population data for US and states using data from US Census Bureau Population Estimates: vintage 2012 in file NST-EST2012-01.xls.
  
• We projected 2013 thru 2018 for US and states assuming population rate change for 2011-12.
• We updated 2001 thru 2010 US and population data using data from US Census Bureau intercensal estimates in ST-EST00INT-01.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.

State Finances for FY2011

On December 6, 2012 the US Census Bureau released data on state finances for FY 2011 here, including spending and revenue for each individual state and for all states combined.

On December 7, 2012 we updated state and local spending and revenue data for FY2011 through FY2017 as follows:

1. We replaced "guesstimated" state spending and revenue data for FY2011 using the new FY2011 data from the Census Bureau.
2. We replaced "guesstimated" local spending and revenue data for FY 2011 with estimates for each spending and revenue category using the trends in state finances between FY 2010 and FY 2011.
3. We replaced "guesstimated" state revenue data for FY 2012 with data from the Census Bureau's quarterly state tax summary here.
4. We replaced "guesstimated" local revenue data for FY 2012 with estimates for each category using trends for each category of state revenue between FY 2011 and FY 2012.
5. We replaced "guesstimated" state and local spending and revenue for FY 2013 thru FY2017 with new guesstimates based on the latest Census Bureau data for FY 2011 state finances and FY 2012 quarterly tax data.

The Census Bureau expects to release local spending and revenue data for FY 2011 in Summer 2013.

Note:  "Business and Other Revenue" continues to show large gains as state pension funds extend their recovery from the Crash of 2008.

US Deficit for FY12

On October 6, 2012, the Congressional Budget Office estimated in its Monthly Budget Review for September that the federal deficit for FY12 ending September 30 was $1.09 trillion. Here are the numbers, including total receipts, total outlays, and deficit compared with the numbers projected in the federal budget published in February 2012:

UPDATE 10/12/2012: Official Treasury numbers added below.  See press release here.

Federal Finances FY12 Outcomes
	Budget billions	CBO billions	Treasury billions
Receipts	$2,469	$2,450	$2,449
Outlays	$3,795	$3,540	$3,538
Deficit	$1,327	$1,090	$1,089

The US Treasury will announce announced on October 12, 2012 the official government report on FY12 outcomes later in October.

usfederalbudget.us now shows the new numbers for total FY12 outlays and receipts on its Estimate vs. Actual page, but will not update detailed FY2012 numbers until the FY2014 federal budget is published in February 2013.