Saturday, October 8, 2011

Economy - Spending - #3311 - How's That Spending Deduction Going? - Hot Air

We still have a long way to go in sorting out the pressing issues facing the nation, and we don’t all agree on the solutions. Foreign policy questions abound, our energy policy is a mess and we still need to bring down those unemployment numbers. But at least there’s one thing we’ve managed to nail down, and that’s spending. Everyone figured out that we have to cut costs and stop running up the deficit, leading us to take quick, substantive action. So… how’s that working out for you? According to the latest CBO report… meh. CBO: Deficit is on track to be $1.3 trillion. The Congressional Budget Office on Friday said that the federal budget deficit is on track to be $1.3 trillion this year, $14 billion more than the deficit CBO predicted in August. Despite all the wrangling in the spring between Republicans and Democrats about budget cuts, 2011 saw spending outlays increase by 4.2 percent compared to 2010. This included a 1 percent increase in defense spending and 1 percent increase in Medicaid spending.  Read more.........

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