Mary: This is Mary Walden with economist MW, welcoming you to the economic perspective. Today’s program looks at state rankings on money from the Feds. Mike, state and local governments receive money from several sources, such as income taxes, sales taxes, and taxes on property values. But another big source is money from the federal government. Is this federal money significant in North Carolina, and how do we compare to other states?
Mike: Summary Answer
- The federal money is significant – $17 billion in 2014
- Goes for SS, Medicare, Medicaid, food stamps, transportation, etc.
- Latest calculations indicate federal money in NC fund almost a third of total government spending in the state
- Rank 25th among the states in % of government spending from fed funds
- In SE, Mississippi and Georgia are highest with almost 40% from fed funds
- South Carolina is lowest at 30%
- Nationwide, Mississippi has highest, and North Dakota is lowest
- I’m MW
Mary: And I’m Mary Walden for the North Carolina Cooperative Extension Service