Last week, NASBO released the latest version of its State Expenditure Report, examining fiscal 2011-2013 state spending and revenue trends. The report found that for the first time in the 26-year history of the publication, total state spending declined in fiscal 2012 as spending from state funds slowly increased, while spending from federal funds rapidly declined as most Recovery Act spending ended. In fiscal 2013 it is estimated that total spending grew moderately as both state and federal expenditures returned to more typical growth levels. Other findings include:
The latest edition of NASBO’s State Expenditure Report finds that for the first time in the history of the State Expenditure Report total state spending declined in fiscal 2012, due to the combination of state funds slowly increasing and federal funds rapidly declining. It is estimated that expenditures returned to more typical growth levels in fiscal 2013 as both state and federal funds moderately increased.
Issue brief discusses ballot measures impact on state budgets.
Congressional Research Service
Federal Reserve System
Macroeconomic Advisers, LLC for Peter G. Peterson Foundation
State Spending for Corrections: Long-Term Trends and Recent Criminal Justice Policy Reform, September 2013
Last night on October 16, Congress voted to pass a bill to fund the federal government through January 15, 2014 and suspend the debt ceiling until February 7, 2014. The Treasury Department will likely be able to take extraordinary measures to continue borrowing past February 7. The Senate passed the measure by a vote of 81-18, and the House followed by approving the measure by a vote of 285-144.