2007 FISCAL NOTEBOOK TABLE OF CONTENTS
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Section 1 : State FinancesSection 2 : Revenues
Section 3 : Expenditures
Section 4 : Debt History
Section 5 : State Budget History
Section 6 : Fiscal Practices
Section 7 : State Taxes
Graphs
Technical Note:
All inflation adjusted figures throughout the Fiscal Notebook were computed using an implicit
price deflator for total state and local government expenditures. The representative market basket
measures state and local government wages, durable and non-durable goods purchases, other services,
and fixed capital consumption. This government index is a better reflection of the State's responsiveness
to relative price changes than other traditional measures, such as the CPI, PCE, or PPI. Government
expenditures are proportionately different than those identified in other market baskets and should
be treated separately.
*This index appears to be driven, in part, by an acceleration in expenditures for non-durable goods due to increases in the prices of petroleum products.
