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What Has Homeland Security Cost? An Assessment: 2001-2005
Title: What Has Homeland Security Cost? An Assessment: 2001-2005
Date: February 2007
Author: Bart Hobjin and Erick Sager
Institution: Federal Reserve Bank of New York
Bibliographic Entry: Hobjin, Bart and Erick Sager. “What Has Homeland Security Cost? An Assessment: 2001-2005.” February 2007. Federal Reserve Bank of New York.
Electronic Link: http://www.newyorkfed.org/research/current_issues/ci13-2.pdf
Key Words: homeland security spending, private sector security, GDP
Summary of Key Points, Issues, Conclusions:
This article discusses how to measure the change in homeland security spending since September 11, 2001. The authors found that increases in homeland security spending have not led to large increase for the U.S. economy. Federal spending on private security issues have not let to increases in the private sector GDP. The Congressional Budget Office and the Bureau of Labor Statistics both predict homeland security resources to remain constant in the next ten years. This report outlines how to measure spending in homeland security and the relationship to the nation’s GDP, but does not predict the adequacy of the funding to prevent future attacks.
Name of Researcher: Courtney Weigand
Institution: Integrative Center for Homeland Security, Texas A&M University
Date Posted: April 9, 2007