While most discussions of the two-year state budget center around the General Fund, this is just one of 35 funds from which state government spends money. Below is budgetary information taken directly from the fiscal notes of the chaptered budget laws in 2017 and 2019 and the same laws for transportation spending in 2017 and 2019, showing “appropriations and allocations” in both budgets. Note the total increase of $2,714,109,070 from the last budget to the latest. This is an increase of 16% while the cost of living rose by just 5% over the same period.
By comparison, the previous state budget was just 3.8% higher than its predecessor.
According to the State Treasurer, the State of Maine currently has a total debt of $7.7 billion.
Office of Fiscal and Program Review. See links.
