The Census Bureau has completed a report on the state’s finances, and the total amount spent last year was a whopping $254.3 billion. You’ll recall that the new administration is grappling with the state’s already large budget deficit, which currently stands at more than $25 billion. In comparison to other states, California certainly takes the top spot when it comes to the state that spent the most (although we are the most populous in the union). Overall, the 50 states in total had $1.8 trillion in spending, and California amounted for 14 percent. In fact, California spent $100 billion more than the state of New York. The Bee reports:
“The state general fund, which is the focus of the deficit debate, accounts for just a third of total state spending, which includes special funds such as those devoted to highways, and federal funds. Federal funds accounted for about $60 billion of the state's spending in 2009 while personal income taxes, at $44.4 billion, were the state's largest source of tax revenue. Education was the largest single category of state spending at $73.2 billion with welfare second at $63.6 billion.”
You can read the full report here.
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