Federal Budget - Public Finance - Lecture Notes, Study notes of Finance

Download Federal Budget - Public Finance - Lecture Notes and more Study notes Finance in PDF only on Docsity! Gasrnment Fi Nance _ Sane nt all, h Bele { Galar IR Ma la ms Ql Vat Jab nits, Pred Qe: ow da < iads Sone th Row Meas oct Jadu Ck. How Lahey <hede maha Pres? = Tnclenve.” Neconctte Qxechias: gona Fai ness anl txddin. a ‘ neKiieney and “rato, K ne \ ion J, Ps ain \ ten” | 2 x el Mor... - F ed er al G o ve rn m en t 0. 00 0 0. 05 0 0. 10 0 0. 15 0 0. 20 0 0. 25 0 0. 30 0 0. 35 0 19 29 19 32 19 35 19 38 19 41 19 44 19 47 19 50 19 53 19 56 19 59 19 62 19 65 19 68 19 71 19 74 19 77 19 80 19 83 19 86 19 89 19 92 19 95 19 98 20 01 20 04 R ec ei pt s/ G D P E xp en d/ G D P Table 425. State and Local Governments—Revenue and Expenditures by Function: 2003 [In millions of dollars (2,047,337 represents $2,047,337,000,000) except as indicated. For fiscal year ending in year shown; see text, this section. Local government amounts are estimates subject to sampling variation; see Appendix III and source. Minus sign (−) indicates net loss] Item Amount (mil. dol.) Per capita 1 (dol.) State and local State Local State and local State Local Revenue 2. . . . . . . . . . . . . . . . . . . . . . . 2,047,337 1,295,659 1,140,633 7,041 4,464 3,923 Intergovernmental revenue 2 . . . . . . . . . . . . . . 389,264 361,617 416,601 1,339 1,246 1,433 Total revenue from own sources 2. . . . . . . . . . . 1,658,073 934,042 724,032 5,702 3,218 2,490 General revenue from own sources . . . . . . . . 1,373,948 750,732 623,216 4,725 2,587 2,143 Taxes 3 . . . . . . . . . . . . . . . . . . . . . . . . . 938,972 548,991 389,981 3,229 1,892 1,341 Property . . . . . . . . . . . . . . . . . . . . . . . 296,683 10,471 286,213 1,020 36 984 Individual income. . . . . . . . . . . . . . . . . 199,407 181,933 17,475 686 627 60 Corporation income . . . . . . . . . . . . . . . 31,369 28,384 2,985 108 98 10 Sales and gross receipts . . . . . . . . . . . . 337,787 273,811 63,975 1,162 943 220 General sales . . . . . . . . . . . . . . . . . 229,222 184,597 44,626 788 636 153 Selective sales3 . . . . . . . . . . . . . . . . 108,564 89,215 19,350 373 307 67 Motor fuel . . . . . . . . . . . . . . . . . . 33,379 32,269 1,110 115 111 4 Alcoholic beverages . . . . . . . . . . . 4,757 4,399 358 16 15 1 Tobacco products . . . . . . . . . . . . . 11,807 11,482 325 41 40 1 Public utilities . . . . . . . . . . . . . . . . 21,015 10,557 10,458 72 36 36 Motor vehicle and operators’ licenses . . . 19,098 17,727 1,372 66 61 5 Death and gift . . . . . . . . . . . . . . . . . . . 6,715 6,685 30 23 23 − Charges and miscellaneous 3 . . . . . . . . . . 434,976 201,741 233,235 1,496 695 802 Current charges 3 . . . . . . . . . . . . . . . . 269,560 106,357 163,204 927 366 561 Education 3 . . . . . . . . . . . . . . . . . . . 78,522 60,215 18,307 270 207 63 School lunch sales . . . . . . . . . . . . 6,074 19 6,055 21 − 21 Higher education. . . . . . . . . . . . . . 66,831 59,392 7,440 230 205 26 Natural resources . . . . . . . . . . . . . . . 3,018 2,160 857 10 7 3 Hospitals . . . . . . . . . . . . . . . . . . . . 68,927 24,131 44,796 237 83 154 Sewerage . . . . . . . . . . . . . . . . . . . . 28,237 27 28,210 97 − 97 Solid waste management . . . . . . . . . . 11,559 416 11,143 40 1 38 Parks and recreation. . . . . . . . . . . . . 7,342 1,202 6,140 25 4 21 Housing and community development . 4,589 565 4,024 16 2 14 Airports . . . . . . . . . . . . . . . . . . . . . 12,759 871 11,888 44 3 41 Sea and inland port facilities. . . . . . . . 2,930 809 2,121 10 3 7 Highways . . . . . . . . . . . . . . . . . . . . 8,503 5,351 3,152 29 18 11 Interest earnings . . . . . . . . . . . . . . . . . 58,317 29,730 28,587 201 102 98 Special assessments . . . . . . . . . . . . . . 5,808 306 5,502 20 1 19 Sale of property. . . . . . . . . . . . . . . . . . 1,773 608 1,165 6 2 4 Utility and liquor store revenue . . . . . . . . . . . 108,388 17,036 91,352 373 59 314 Insurance trust revenue . . . . . . . . . . . . . . . . 175,737 166,274 9,463 604 573 33 Expenditure 2 . . . . . . . . . . . . . . . . . . . . 2,164,176 1,359,048 1,194,932 7,442 4,683 4,109 Intergovernmental expenditure 2 . . . . . . . . . . . . 4,404 382,197 12,011 15 1,317 41 Direct expenditure 2 . . . . . . . . . . . . . . . . . . . . 2,159,772 976,852 1,182,920 7,427 3,366 4,068 General expenditure 3 . . . . . . . . . . . . . . . . . 1,817,513 781,772 1,035,741 6,250 2,694 3,562 Education 3 . . . . . . . . . . . . . . . . . . . . . . 621,335 170,685 450,650 2,137 588 1,550 Elementary and secondary education . . . 428,503 4,691 423,812 1,474 16 1,457 Higher education . . . . . . . . . . . . . . . . . 164,187 137,349 26,838 565 473 92 Public welfare. . . . . . . . . . . . . . . . . . . . . 306,463 265,105 41,358 1,054 913 142 Hospitals . . . . . . . . . . . . . . . . . . . . . . . . 93,175 38,023 55,152 320 131 190 Health . . . . . . . . . . . . . . . . . . . . . . . . . . 61,703 30,351 31,353 212 105 108 Highways . . . . . . . . . . . . . . . . . . . . . . . 117,696 72,455 45,241 405 250 156 Police protection . . . . . . . . . . . . . . . . . . . 67,361 9,860 57,501 232 34 198 Fire protection . . . . . . . . . . . . . . . . . . . . 27,854 − 27,854 96 − 96 Corrections . . . . . . . . . . . . . . . . . . . . . . 55,471 36,938 18,533 191 127 64 Natural resources . . . . . . . . . . . . . . . . . . 22,808 17,110 5,699 78 59 20 Sewerage . . . . . . . . . . . . . . . . . . . . . . . 32,540 1,003 31,537 112 3 108 Solid waste management . . . . . . . . . . . . . 19,183 2,693 16,491 66 9 57 Housing and community development . . . . . 35,275 4,608 30,668 121 16 105 Governmental administration . . . . . . . . . . . 98,658 42,846 55,813 339 148 192 Parks and recreation . . . . . . . . . . . . . . . . 31,765 4,636 27,129 109 16 93 Interest on general debt . . . . . . . . . . . . . . 77,277 31,295 45,982 266 108 158 Utility . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144,594 22,405 122,189 497 77 420 Liquor store expenditure . . . . . . . . . . . . . . . 4,402 3,697 706 15 13 2 Insurance trust expenditure . . . . . . . . . . . . . 193,263 168,979 24,285 665 582 84 By character and object: Current operation . . . . . . . . . . . . . . . . . . 1,579,290 656,989 922,301 5,431 2,264 3,172 Capital outlay . . . . . . . . . . . . . . . . . . . . . 263,198 91,943 171,255 905 317 589 Construction . . . . . . . . . . . . . . . . . . . . 203,035 72,374 130,661 698 249 449 Equipment, land, and existing structures . 60,162 19,568 40,594 207 67 140 Assistance and subsidies . . . . . . . . . . . . . 35,080 25,901 9,179 121 89 32 Interest on debt (general and utility) . . . . . . 88,940 33,040 55,900 306 114 192 Insurance benefits and repayments . . . . . . 193,263 168,979 24,285 665 582 84 Expenditure for salaries and wages 4 . . . . . . . . 647,211 183,386 463,826 2,226 632 1,595 − Represents or rounds to zero. 1 Based on estimated resident population as of July 1. 2 Aggregates exclude duplicative transactions between levels of government; see source. 3 Includes amounts not shown separately. 4 Included in items shown above. Source: U.S. Census Bureau, ‘‘Federal, State, and Local Governments, Finance, State and Local Government Finances,’’ 2002−03; see also <http://www.census.gov/govs/www/estimate03.html> (accessed 21 June 2005). 272 State and Local Government Finances and Employment U.S. Census Bureau, Statistical Abstract of the United States: 2007 GOVERNMENT SECTOR, 2004 Australia 36.6 a 36.2 a 17.9 a 9.2 a 1.0 a 0.4 a Australia Austria 49.3 50.6 18.0 19.2 0.9 - 1.3 Austria Belgium 49.3 49.3 22.6 16.0 - 0.3 0.0 Belgium Canada 41.7 a 41.1 a 19.7 a 10.4 a 1.2 a 0.6 a Canada Czech Republic 41.5 44.6 22.9 11.8 - 0.8 - 3.0 Czech Republic Denmark 58.9 56.3 26.7 16.9 2.2 2.6 Denmark Finland 52.5 50.7 22.4 16.8 2.2 1.9 Finland France 49.8 53.4 23.9 17.7 - 2.6 - 3.6 France Germany 43.2 46.8 18.4 19.2 - 2.8 - 3.6 Germany Greece 46.0 52.0 17.1 18.7 - 1.5 - 6.0 Greece Hungary 44.6 48.9 22.6 14.2 - 4.2 - 4.3 Hungary Iceland 48.1 47.6 26.6 9.2 3.8 0.4 Iceland Ireland 35.6 34.2 16.0 9.2 3.6 1.3 Ireland Italy 45.4 48.5 19.2 17.3 - 1.4 - 3.1 Italy Japan 30.3 b 38.2 b 17.7 b 10.9 b - 4.8 b - 7.9 b Japan General government final consumption expenditure % of GDP Social security transfers % of GDP Net saving of general government % of GDP Net lending of general government % of GDP Total general government revenue % of GDP Total general government expenditure % of GDP 36 Korea 31.3 a 30.9 a 13.5 2.3 9.0 0.4 a Korea Luxembourg 44.8 45.9 18.2 15.7 3.4 - 1.1 Luxembourg Mexico .. .. 12.1 b 1.6 b 0.4 b - 1.9 b Mexico Netherlands 46.2 48.6 25.0 12.3 - 1.3 - 2.3 Netherlands New Zealand 41.2 b 37.0 b 17.5 b 10.5 b 5.6 b 4.2 b New Zealand Norway 57.9 46.4 22.0 15.0 12.5 11.5 Norway Poland 40.2 45.0 17.6 a 15.3 - 1.7 a - 4.8 Poland Portugal 45.4 48.4 21.4 14.9 - 4.2 - 3.0 Portugal Slovak Republic 45.7 49.0 20.3 10.4 - 3.4 - 3.3 Slovak Republic Spain 38.4 38.6 17.4 11.7 2.9 - 0.3 Spain Sweden 58.3 57.3 27.7 18.0 1.6 1.0 Sweden Switzerland 35.6 b 35.5 b 11.8 b 11.3 b 0.7 b 0.2 b Switzerland Turkey1 .. .. 13.2 .. .. .. Turkey1 United Kingdom 40.8 43.9 21.2 13.4 - 1.9 - 3.1 United Kingdom United States 31.9 a 36.5 a 15.6 a 12.0 a - 3.4 a - 4.6 a United States Notes: StatLink: http://dx.doi.org/10.1787/444141640346 .. not available 1. According to the 1968 System of National Accounts (SNA) a. 2003 b. 2002 Source: National Accounts of OECD Countries , OECD, Paris, 2005. 37 Dee and Ubealle Pact ADE come redes, $6.00 cach, Dae dissed, Wy ates, Vordalaage Trdeect / Sire Unt / "KA veihoewn ” Conantinal Gite, indict frer Ar xg an guise Rev er, Dre frees arte ™ rome Reber hand Gr alotrehion, * alah put € Sala Us pl inbegen wkatly € wk. Tes ak ght s€ le met, aya wean rake, Use WA bee ii ie hy of \ - ob ty Zit rae rk Ant leg en oter wy ye Luft a Rp ‘) Tox fel inde, akct & Sle @n be much mee (or rate dighshiotel. nt - * Neb papetind — mate aks, e f ~ NY Spacdlle . 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