In 1902 governments in the United States spent one percent of GDP on education programs. In the early 21st century, governments spend about six percent of GDP on education programs.
Government education spending in the first half of the 20th century was almost exclusively for childhood education, K thru 12. In 1950, spending was 2.01 percent on K-12 and 0.38 percent of GDP on higher education. But then the higher education share began to grow. At the peak of education spending in the 1970s, K-12 spending was 4.01 percent of GDP and higher education was 1.49 percent of GDP. Thus K-12 spending had doubled as a percent of GDP and higher education spending had just about quadrupled in 25 years.
Since the 1970s higher education has increased its share a little. K-12 education spending ended up at 3.5 to 3.8 percent in the 2000s and higher education spending rose to 1.6 to 1.8 percent of GDP.
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> State Finances FY12
US, State Pop FY13
Source: CBO Long-Term Budget Outlook .
First, Fannie Mae made a onetime payment to the Treasury of around $50 billion resulting from a revaluation of certain tax assets that significantly increased its net worth. Second, because both Fannie Mae and Freddie Mac were profitable in 2013, the companies were required to make quarterly payments to the Treasury in amounts related to the increase in their net worth.