Govt Spending Rises Despite Cut Efforts

Tuesday, 08 Nov 2011 11:59 AM

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Despite concerted government efforts to cut spending, expenditures actually grew in fiscal year 2011. Spending increased $145 billion, according to the Congressional Budget Office, The Hill reported.

The spending deal worked out in April cut more than $38 billion, but previous authorizations and mandatory spending continued unabated, accounting for the increase. Defense spending was up 1 percent, Social Security 3.5 percent and Medicare 4 percent, according to the Hill.

Interest on the debt was up by 16 percent. The federal budget deficit at the end of fiscal 2011 was $1.299 trillion, slightly above fiscal 2010’s number of $1.294 trillion, according to the Hill.

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Arizona Police Officer, Suspect Killed in Shootout

Saturday, 27 Dec 2014 21:07 PM

 . . .

Governors Urge 94-year-old Man's Extradition to Wyoming

Saturday, 27 Dec 2014 20:40 PM

The governors of Wyoming and Michigan are trying to speed up extradition of a 94-year-old Michigan man investigators say . . .

Former President George HW Bush to Spend Weekend in Hospital

Saturday, 27 Dec 2014 20:22 PM

Doctors in Houston will keep former President George H.W. Bush in the hospital through the weekend since his bout with s . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved