We have done all this and more while keeping state spending low, allowing us to provide over $2 billion in tax relief. According to the Georgia Public Policy Foundation, state budget growth from 1998 to 2010 was roughly equal to inflation and population growth. But if you just look at the numbers since we took office, spending has fallen well below that metric. Just this year, the state is spending some $7 billion less than we would have by simply keeping pace with inflation and population growth.
Georgia has not been immune to the national economy. The global economic downturn has reduced state revenue and compelled us to further reduce spending. Even through this financial turmoil and dramatic drop in state revenues, Georgia has maintained its AAA bond ratings, saving the state tens of millions in interest.