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A number of states have a two-year or three year budget (e.g.: Kentucky) while others have a one-year budget (e.g.: Massachusetts). In the table, the fiscal years column lists all of the fiscal years the budget covers and the budget and budget per capita columns show the total for all those years.
The LAO in late 2023 projected the state would see a $68 billion spending shortfall. Newsom and his Department of Finance in January suggested it was closer to $38 billion. An LAO analysis of the ...
The US government's Bureau of Economic Analysis as of Q3 2023 estimates $10,007.7 billion in annual total government expenditure (both state and federal) and $27,610.1 billion annual total GDP which is 36.2%. [1]
State Budget (in crore rupees) FY Reference Andhra Pradesh ₹ 279,279 crore (US$32 billion) 2023-24 [1] Arunachal Pradesh ₹ 29,657 crore (US$3.4 billion) 2023-24 [2] Assam ₹ 321,000 crore (US$37 billion) 2023–24 [3] Bihar ₹ 261,885 crore (US$30 billion) 2023–24 [4] Chhattisgarh ₹ 121,500 crore (US$14 billion) 2023–24 [5] Delhi
As for this fiscal year, the state could reap savings similar to those in Newsom’s proposal if it imposed an up-to 1.5% across-the-board reduction in General Fund spending levels from the 2023 ...
In 2009, the state had a $3.3 billion (~$4.56 billion in 2023) budget deficit, with twenty-four year term State Rep. Edward G. Staback stating at the time that, "It is probably the worst I have ever seen." [10] Governor Rendell proposed an increase of 16% in the state's personal income tax and $72 million in cuts to balance the budget. [11]
Newsom's plan to close the deficit relies on $17.3 billion in savings from budget cuts he and lawmakers agreed to in April and using $4.2 billion from the state's rainy day fund and budget ...
The budget deficit increased from $665 billion in 2017 to $779 billion in 2018, an increase of $114 billion or 17%. The budget deficit increased from 3.5% GDP in 2017 to 3.9% GDP in 2018. Compared to the budget deficit of $487 billion forecast for 2018 by CBO just prior to Trump's inauguration, the actual budget deficit was up $292 billion or 60%.