Figure 1: State and Local Operating Balance Measure, as a Percentage of Gross Domestic Product (GDP)
This image is excerpted from a U.S. GAO report:
www.gao.gov/products/GAO-12-523SP
STATE AND LOCAL GOVERNMENTS’ FISCAL OUTLOOK April 2012 Update
Notes: Historical data are from BEA’s National Income and Product Accounts. Data in 2011 are GAO estimates aligned with published data where available. GAO simulations are from 2012 to 2060, using many CBO projections and assumptions, particularly for the next 10 years.
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