View/Download the above in Excel: General State Budget Statistics 2010
The data on the General State and Budget Statistics Report compiled by EconoSTATS shows State economic information for the fiscal year 2010. The purpose behind the study was to compare and contrast the fiscal situations of the fifty States in the United States of America (as well as Washington D.C. when that data were reported) to get a better idea of where the States stand financially. All numbers in the report are on a per capita basis, so the data can be compared across States more accurately.
The data used come from several different reports compiled by the U.S. Census Bureau, the Internal Revenue Service, the Bureau of Labor Statistics, and the Bureau of Economic Analysis.
We are currently waiting on more data to be released before we compile our 2011 Report.
New Data Releases
The Bureau of Economic Analysis will be coming out with the 2011 Gross Domestic Product by State Report on June 5, 2012 and it will release the 2011 State Annual Personal Income Report on September 25, 2012.
The Internal Revenue Service recently released the 2011 Internal Revenue Service Data Book, and the Bureau of Labor Statistics has now reported the Unemployment Rates for States Annual Average for 2011.
The U.S. Census Bureau recently announced it is terminating the Federal Financial Statistics Program. As such, they will no longer be producing the Consolidated Federal Funds Report. According to the U.S. Census Bureau, some of the data they previously reported on the CFFR will now be available on www.USAspending.gov.
Please look for EconoSTATS General State Budget Statistics Report for 2011 as the year progresses.
The Data Explained
The ST indicates the State by its United States Postal Service’s state abbreviation.
Region specifies the geographical location of the State, as designated by the U.S. Census Bureau, where:
- 1 = Northeast
- 2 = Midwest
- 3 = South
- 4 = West
The Population statistic documents the number of people who lived in the State in 2010, according to the “Consolidated Federal Funds Report for Fiscal Year 2010” produced by the U.S. Census Bureau.
Right-to-Work indicates whether or not the State has a right-to-work law. If a state has a right-to-work law it means that the state prohibits the use of union security agreements, which allow for a union to collectively bargain. It also means that trade and labor unions cannot compel employees to join the union, and employers cannot collect dues on behalf of the union. On the spreadsheet a “0” indicates that the State does not have a right-to-work law, whereas a “1” indicates that the State does have a right-to-work law.
UE Rate indicates the annual average unemployment rate for the State for 2010, as collected by the Bureau of Labor Statistics.
Fed Funds Received Per Capita is the amount of funds the State received per person from the Federal Government in 2010, including Retirement & Disability, Medicare Hospital Insurance, Medicare Supplemental Medical Insurance, Medicare Prescription Drug Coverage, Excess Earned Income Tax Credit, Unemployment Compensation, SNAP, Housing Assistance, Agricultural Assistance, Federal Employee Life & Health Insurance, Student Financial Assistance, Other Direct Payments, Grants, Procurement Contracts, and Salaries and Wages. The data were collected from the U.S. Census Bureau “Consolidated Federal Funds Report for Fiscal Year 2010.”
Funds Sent to Fed Per Capita is the average amount of revenue collected per person from the State that was sent to the Federal Government in 2010. The data was collected from the “2010 Internal Revenue Service Data Book.”
Net Received Per Capita equals the Fed Funds Received Per Capita less Funds Sent to Fed Per Capita. This statistic allows us to see if a State is a net receiver of funds or giver of funds.
Funds Rec/$Sent indicates how much money a State received for every dollar it sent to the Federal Government.
GDP Per Capita is the average value of the goods and services the State produced in 2010 per person. GDP data were gathered from the Bureau of Economic Analysis.
Personal Income Per Capita indicates the average earnings an individual living in the State makes from wages, investment interest, and other sources. The data were gathered form the Bureau of Economic Analysis.
Debt Per Capita is the amount of debt the State had in 2010 per person.
State Spending to GDP is the percentage of GDP the State spent during 2010.
State Revenue to GDP is the percentage of GDP the State received in revenue for 2010.
State Surplus to GDP is State Revenue less State Spending relative to GDP.
State Debt to GDP is how much debt the State had in 2010 compared to the amount of GDP it produced for 2010. The U.S. Census Bureau collected the data on State Debt, Spending, and Revenue.
Net Received from Fed to GDP is how much the state received from the Federal Government on net for 2010 compared to the State’s GDP.