Interesting report, courtesy of the AP, on a release by the National Conference of State Legislatures:
- During the 90s boom, state spending grew $556 billion or 88 percent, or 6.57% per year.
- In 1991, state spending was 9.8% of GDP; in 2001 it was 10 percent (virtually all owing to Medicaid, education, and prisons).
- State spending will go up again this year, by 1%.
- Revenue for current year is expected to be 4.3% higher this year than last. It will fall in only two states (Alaska and Louisiana).
- In the past two years, states have raised $16 billion in new or higher taxes.
Here is the NCSL news release.
