The local government taxes went up over the last several years and didn't decline like private companies did. Thus government expenditures are a higher percentage of total spending (Gross Domestic Product or GDP) in Florida than they were 10 years ago, siphoning off funds that should be going to private business development.
The first number is the state and local government % of GDP
The second number is the state and local government share of the GDP and adding the public debt to the percentage.
Florida is now 28th out of all states... it was much higher on the list 10 years ago, but taxes went up faster than GDP and have not been reduced to maintain the earlier ratios of government share of GDP.
States that consume less than 16% of the GDP.
1. Delaware 14.5% 27%
2. Virginia 15% 28.7%
3. Connecticut 15.5% 31%
4. Texas 15.6% 33.5%
5. South Dakota 15.9% 29.8%
And, then there is Florida, number 28, consuming more than 36% of State GDP. Notice it is running 5% higher than Texas, indicating a significant higher state and local government share of GDP plus public debt. Almost 5% doesn't sound like much, but it drops Florida to 28th among all states.
28. Florida 19.6% 36.1%
http://www.floridapoliticalpress.com/2011/06/21/why-has-texas-created-48-of-all-jobs/
vj
