In FY 2019, total US government
spending, federal, state, and local, is “guesstimated” to
be $7.56 trillion, with
federal $4.41 trillion; state $1.87 trillion; local $1.99 trillion.
Our $7.56 trillion is 37.8% of our US $20 trillion GDP.
The cost of State and Local government in the US is $3.86
trillion per year.
It can be cut if governments identify their primary
responsibilities and privatize functions that work in the Private Sector.
Governments need to begin to avoid debt. The federal
government needs to operate with a balanced budget and pay down the $22
trillion National Debt.
States and Local
government entities need to stop selling Bonds to reduce interest costs and
eliminate their Debt Service budgets. They should also return to insured lowest
bids. Capital projects should be funded through accrual accounts, not Bond
sales.
States and local government entities routinely fund capital
projects by selling Bonds rather than setting up accrual accounts to fund these
projects. Bonds can cost as much in interest cost as the amount borrowed.
A 30 year Bond paying 5% will cost double, like a home
mortgage. So, of your local government
entity spends $20 million on a new school building, it actually costs $40
million. The amount of debt carried by States is included in this report.
The Annual Spending reported only includes spending from
State and Local revenues and does not include “federal grants to States” that
can amount to 30% to 80% more than the spending reported.
The “big spending” States are listed by Debt. California
carries the highest debt at $476.5 billion. California spends $587.9 billion a
year on State and Local government operations and projects.
This
list shows State & Local government Debt and Annual Spending In
$Billions. The list is in Debt order
decending. California carries the highest debt at $476.5 billion. It is also
host to the largest economy with the largest population at 39.5 million and the
largest State GDP at $2.9 trillion. California has the highest taxes and
highest cost of living and is losing population and businesses to lower cost
States.
State,
Debt, Annual Spending
California,
$476.5 billion, $587.9 billion
New
York, $388.7 billion, $351.0 billion
Texas,
$288.2 billion, $274.8 billion
Illinois,
$162.3 billion, $145.8 billion
Florida,
$127.6 billion, $180.4 billion
Pennsylvania,
$113.7 billion, $165.4 billion
Massachusetts,
$102 billion, $97.3 billion
New
Jersey, $101.3 billion, $119.3 billion
Washington,
$96.3 billion, $101.7 billion
Ohio,
$86.3 billion, $140.1 billion
Virginia,
$69.8 billion, $88.1 billion
Michigan,
$69.4 billion, $105.3 billion
Georgia,
$63.9 billion, $87.1 billion
Maryland,
$58.5 billion, $69.3 billion
Connecticut,
$52.8 billion, $50.0 billion
Arizona,
$52.3 billion, $65.9 billion
Minnesota,
$52.2 billion, $76.2 billion
Indiana,
$52.0 billion, $66.3 billion
Colorado,
$47.8 billion, $63.0 billion
South
Carolina, $45.2 billion, $52.7 billion
Missouri,
$44.7 billion, $59.2 billion
North
Carolina, $42.6 billion, $97.7 billion
Tennessee,
$39.4 billion, $62.2 billion
Kentucky,
$37.6 billion, $50.0 billion
Louisiana,
$35.3 billion, $51.4 billion
Oregon,
$31.7 billion, $55.9 billion
Nevada,
$31.0 billion, $27.2 billion
Alabama,
$26.8 billion, $48.9 billion
Wisconsin,
$24.4 billion, $29.7 billion
Iowa,
$19.0 billion, $37.5 billion
Oklahoma,
$18.3 billion, $38.9 billion
DC,
$18.3 billion, $19.2 billion
Hawaii,
$17.1 billion, $18.0 billion
Utah,
$16.2 billion, $30.8 billion
Nebraska,
$15.9 billion, $25.8 billion
New
Mexico, $15.1 billion, $23.9 billion
Arkansas,
$14.6 billion, $29.8 billion
Mississippi,
$14.0 billion, $33.0 billion
Rhode
Island, $12.2 billion, $13.1 billion
New
Hampshire, $10.0 billion, $14.0 billion
Alaska,
$9.7 billion, $15.1 billion
North
Dakota, $8.3 billion, $11.7 billion
Maine,
$7.8 billion, $14.1 billion
Delaware,
$7.7 billion, $12.5 billion
Montana,
$5.6 billion, $10.9 billion
Idaho,
$5.4 billion, $13.8 billion
Vermont,
$3.2 billion, $8.3 billion
Wyoming,
$1.8 billion, $10.9 billion
Comments
Government in the US
is spending on things that are not government’s responsibilities. The federal
government abandoned the US Constitution in 1872 and continued to usurp State
responsibilities and State continued to overspend on all forms of socialist and
special interest programs. This overreach needs to be reduced and eliminated.
Government needs to return most of what they do back to the private sector,
charities and families. Failure to reduce spending will result in sovereign
bankruptcy at all levels of government.
Norb Leahy, Dunwoody
GA Tea Party Leader
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