State and local spending austerity explains slow recovery from Great Recession: Growth in inflation-adjusted spending by state and local governments following last four recessions
| 1982Q4 | 1991Q1 | 2001Q4 | 2009Q2 | |
|---|---|---|---|---|
| -6 | 96.67891 | |||
| -5 | 98.40845 | 96.46256 | ||
| -4 | 98.92386 | 96.73869 | ||
| -3 | 98.78417 | 95.56997 | 97.08859 | |
| -2 | 99.35263 | 98.03818 | 98.02192 | 97.43484 |
| -1 | 99.37428 | 99.53765 | 96.90302 | 98.87091 |
| 0 | 100 | 100 | 100 | 100 |
| 1 | 100.7916 | 101.3079 | 100.7531 | 100.3462 |
| 2 | 100.5935 | 102.3312 | 100.7985 | 99.72849 |
| 3 | 101.3647 | 104.2608 | 101.4654 | 98.64239 |
| 4 | 101.5274 | 104.957 | 102.0422 | 98.64951 |
| 5 | 102.8011 | 105.4689 | 101.5634 | 98.84632 |
| 6 | 104.0106 | 106.0567 | 101.3062 | 98.08053 |
| 7 | 105.6019 | 105.7961 | 102.194 | 97.03457 |
| 8 | 106.7251 | 106.3322 | 101.6299 | 96.03217 |
| 9 | 108.1191 | 107.0051 | 102.4998 | 95.11211 |
| 10 | 109.9723 | 108.3784 | 103.1967 | 94.95672 |
| 11 | 111.7137 | 108.8005 | 102.6419 | 94.31938 |
| 12 | 112.6535 | 109.2688 | 102.5986 | 94.83081 |
| 13 | 114.6857 | 110.2282 | 102.9015 | 94.26933 |
| 14 | 116.0163 | 111.1565 | 103.4383 | 94.07547 |
| 15 | 117.168 | 112.4807 | 103.3053 | 93.87549 |
| 16 | 117.6919 | 113.5361 | 103.3453 | 94.43947 |
| 17 | 118.3227 | 114.1922 | 102.3932 | 94.79901 |
| 18 | 118.6887 | 114.1988 | 103.0579 | 94.57119 |
| 19 | 119.1768 | 113.5725 | 103.9334 | 94.50842 |
| 20 | 120.697 | 114.0972 | 104.0008 | 95.56804 |
| 21 | 122.0653 | 116.5445 | 105.7482 | 96.79811 |
| 22 | 123.5624 | 116.6986 | 105.0869 | 97.81506 |
| 23 | 124.2218 | 117.772 | 105.3214 | 98.892 |
| 24 | 125.7534 | 119.0412 | 105.9506 | 100.336 |
| 25 | 126.8061 | 119.2027 | 100.9139 | |
| 26 | 128.289 | 119.9146 | 100.8577 | |
| 27 | 129.8107 | 120.6201 | 101.8333 |
Notes: This figure describes total state and local government spending. Government consumption and investment expenditures are deflated with the NIPA price deflator. Government transfer payments are deflated with the price deflator for personal consumption expenditures.
Source: EPI analysis of Bureau of Economic Analysis National Income and Product Accounts public data (BEA various years)