Republican and Democrat leaders have agreed to cut federal funding by $38 billion this year (versus fiscal 2010). What does that mean for the overall spending picture? Based on estimates from the Congressional Budget Office, total federal outlays will still rise by approximately $177 billion.
Showing posts with label FY 2011. Show all posts
Showing posts with label FY 2011. Show all posts
Wednesday, April 13, 2011
What Cuts?
Republican and Democrat leaders have agreed to cut federal funding by $38 billion this year (versus fiscal 2010). What does that mean for the overall spending picture? Based on estimates from the Congressional Budget Office, total federal outlays will still rise by approximately $177 billion. 
Budget Antics
It’s a cut of $38 billion in a budget of $3,819 billion. That’s 1 percent. That’s a rounding error in federal budgeting.
That same budget table shows that federal spending fell from $92.7 billion in 1945 to $55.2 billion in 1946, to $34.5 billion in 1947, and to $29.8 billion in 1948.
The fundamental point here is that federal spending rose by more than a trillion dollars during Bush’s first seven years, and then by almost another trillion in barely three fiscal years. And then we had a titanic battle over whether to trim $38 billion.
FY 2001 $1,863
FY 2008 $2,983
FY 2011 $3,819
Monday, April 4, 2011
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