Govt Spending Rises Despite Cut Efforts

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.