What Has Homeland Security Cost? An Assessment: 2001-2005
Source: Federal Reserve Bank of New York
Authors Bart Hobijn and Erick Sager estimate that homeland security spending climbed from $56 billion in 2001 to $99.5 billion in 2005. Federal spending accounts for $34.2 billion of the roughly $43.6 billion increase, while private sector spending accounts for the remaining $9.4 billion.
The authors indicate that while both the public sector and the private sector have boosted their security expenditures, the increase has been very modest as a share of the nation’s overall resources: Total spending on homeland security rose from 0.55 percent of GDP in 2001 to 0.80 percent of GDP in 2005—a gain of only ¼ of 1 percent.
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