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Entries in State Government (1)

Wednesday
Jan052011

State Revenues Drop, Spending on the Rise

Photo Courtesy - Getty Images(SUITLAND, Md.) -- State government revenue dropped in 2009 while state spending increased, according to new data released by the U.S. Census Bureau.
 
The overall state government revenue declined to $1.1 trillion in 2009, a 30.8-percent drop from $1.6 trillion in 2008. 

Total taxes collected made up the largest portion of revenue at $715.1 billion, an 8.5-percent decline from 2008.

Although state governments saw a decline in revenue, they spent three percent more than 2008 with $1.5 trillion in total state expenditures in 2009. Top expenditures included education, public welfare and public hospitals and health.

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