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  • Now for Something Completely Different (Part II)

    By J.D. Neeson, President, Marine Parts Express

    Recently, while reading my dear wife’s AARP Bulletin Vol. 52, No. 4 (notice how I emphasize it was her copy), I saw a little report with some interesting numbers about state government debt. As always, it appears that the ongoing debate is focusing on the wrong issues. The chart below shows projected deficits as a percentage of budget for fiscal 2012 (I added which party controls the legislature—R for Republican, D for Democrat, S for divided, as of 2010 elections—to show there is plenty of blame to go around).

    Ala., 13.9% R; Ariz., 11.5% R; Calif., 29.3% D; Colo., 13.8% S; Conn., 18.0% D; D.C., 5.2% S; Del., 6.3% D; Fla., 14.9% R; Ga., 7.9% R; Hawaii, 8.2% D; Idaho, 3.9% R; Ill., 14.6% D; Ind., 2.0% R; Iowa, 3.5% S; Kan., 8.8% R; Ky., 9.1% S; La., 20.7% S; Maine, 16.1% R; Mass., 5.7% D; Md., 10.7% D; Mich., 5.9% R; Minn., 23.6% R; Miss., 14.1% D; Mo., 9.1% D; Neb., 9.2% S; Nev., 45.2% D; N.H., 27.2% R; N.J., 37.4% D; N.M., 8.3% D; N.Y., 18.7% S; N.C., 12.7 R; Ohio, 11.0% R; Okla., 9.4% R; Ore., 25.0% S; Pa., 16.4% R; R.I., 11.3% D; S.C., 17.4% R; S.D., 10.9% R; Tenn., 9.4% R; Texas, 31.5% R; Utah, 8.2% R; Vt., 16.3% D; Va., 13.1% S; Wash., 16.2% D; Wis., 12.8% R

    Note how the states with the highest percentages are not necessarily the ones that have the poorest economies or vice versa. It looks like (other than California) many of those states with the lowest income and sales tax rates are the ones in the most trouble. It also looks like neither party can brag too much about their fiscal prowess, although some of the Rocky Mountain states’ Republicans can feel a little proud.

    On average, approximately 43% of state revenues come from general funds (state income and sales tax), 30% from the Federal Government, 25% from other taxes that the state gets a cut from (like gas or cigarette taxes or licenses, etc.) and only 2% from bonds. On average, approximately 22% of state spending is on Medicaid, 21% on public education, 10% on state higher education, 8% on transportation, 3% on corrections, 2% on public assistance and only 4% on pensions. The rest is spent on all sorts of programs (including debt service), with a discouraging amount falling under “administration.”

    J.D. Neeson


    Comments? Questions? Suggestions for topics for our blog or newsletter? Send them to
    info@marinepartsexpress.com.

    Marine Parts Express is a division of Water Resources, Inc., a privately held Maine Corporation.

    For all your marine engine parts needs, call us toll free at 877.621.2628, or outside the U.S. at 207.882.6165.

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    May 20, 2011 / JD Neeson / 0

    Categories: Economy, JD Neeson

    Tags: AARP, state government debt, state revenue

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Recent Posts

  • Things I Found While Looking For Something Else – Part VI
  • Re-Introducing the OneList
  • Winterization Guide
  • Labor Day Sale 2016
  • Memorial Day Sale 2016
  • Turbocharger Damage Prevention Bulletin
  • The Art of Quilling
  • Winter – Maine Style
  • XDP Upgrade Promotion – Extended!!! (through 12/31/14
  • Lubricants, Oils, Sealants, and Adhesives – Discussion and Cross-Reference

Tag Cloud

    american goldfinch bird feet configuration Birds blue jay brown creeper cardinals China debt Downy Woodpecker Economy ethanol flame arrester flame arrestor gear ratios hermit thrush hummingbirds low flow lubricants Lytro magnetic alignment magnifying glass magnolia Maine maine authors maine golf maine hunting camp maine winter manufacturing Margaret Graham Neeeson Margaret Graham Neeson Marine Parts Express mercruiser oriole osprey overheating propeller prop sizes Ruby-Throated Hummingbird sail drive service bulletin The Skipper volvo volvo penta wild turkey Winter

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  • Contact Us

Categories

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    • Birds
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  • The Express
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    • Stacy Lash
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