November 20, 2014      2:42 PM
Greenfield: The Year That Was – State Expenditures in Fiscal Year 2014
Economist Stuart Greenfield on where the dollars really went
Along with the increase (6.0
percent) in total revenue, total expenditures also increased by a substantial
amount (6.6 percent) in fiscal year 2014 (FY14). Of the $6.2 billion increase in state
expenditures in FY14, over half (50.6 percent) was accounted for by the increase
in Public
Assistance Payments, primarily Medicaid, while 20.5 percent of the
increase was for public education.
As shown in Table 1, two items,
public assistance payments (38.5 percent, an increase from FY13), and public
education payments (24.7 percent, a decrease from FY13) accounted for almost
2/3rds of state expenditures.
The
complete column from Dr. Stuart Greenfield can be found in the R&D Department.
By Stuart Greenfield, Ph.D.
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