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Posted on October 6, 2009
Tallahassee Reports has completed an analysis that indicates that the COT government spending has increased as a percentage of the Tallahassee’s Gross Domestic Product from 2005-2008. Gross Domestic Product (GDP) is the measure of all goods and services provided.
Using Bureau of Economic Analysis (BEA) data on Gross Domestic Product and City of Tallahassee expenditure data, the analysis indicates the COT GDP grew 11.6%, while COT government expenditures increased 33% from 2005 to 2008. (Government Expenditures includes all government funds.)
When isolating the General Fund expenditures, the analysis indicates a growth rate of 12.5 % over the period of 2005-2008, compared to the GDP growth rate of 11.6%.
The table below shows yearly government expenditures as a percentage of the GDP.
The calculation for 2009 is an estimate taking into account the current recession and COT expenditure estimates for 2009.
The above table indicates an increasing percentage of resources being removed from the Tallahassee economy to address the needs of government.