According to a new report (PDF) by the bureau of justice statistics (BJS):

Preliminary data from the Census Bureau’s annual State Government Finance Census indicate states spent $48.5 billion on corrections in 2010, about 6% less than in 2009.

By comparison, states spent $571.3 billion on education in 2010 and $462.7 billion on public welfare.

From 1999 to 2010, among 48 states, 11 states showed a linear decrease in current operations expenditures per inmate, with an average annual decline of $1,093; 5 states had a linear increase, with an average annual additional cost per inmate of $1,277.

The mean state corrections expenditure per inmate was $28,323 in 2010, although a quarter of states spent $40,175 or more.

One particular finding struck me: “Between 1982 and 2001, total state corrections expenditures increased each year, rising from $15.0 billion to $53.5 billion in real dollars.” This is really stunning.

There are some great charts and good data in this report including a state-by-state breakdown of prison medical expenditures, for example. You should read the report (PDF).