Manonthestreet
Diamond Member
- May 20, 2014
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listen to dems and they will sing their song of gotta cut defense...…
now for the facts
Shock Report: 86% Of Federal Spending Is Now On Autopilot | Investor's Business Daily
The new report from the Government Accountability Office — a federal auditing agency — shows that of the $3.7 trillion the federal government spent in 2015, $3.2 trillion of it didn't require authorization by Congress that year. In other words, Congress only specifically approved 14% of what the federal government spent that year.
Over the years, this kind of autopilot spending authority exploded from $1.7 trillion in 1994 to $3.2 trillion by 2015. That's an 87% increase, after adjusting for inflation.
Permanent appropriations — to fund entitlements — climbed 81% over those years. But "offsetting collections" rocketed up by 126%. In 2015, federal agencies spent more than $421 billion this way. And contract authority — by which Congress lets agencies under certain conditions spend money before Congress approves it — has climbed 166% to $165 billion.
now for the facts
Shock Report: 86% Of Federal Spending Is Now On Autopilot | Investor's Business Daily
The new report from the Government Accountability Office — a federal auditing agency — shows that of the $3.7 trillion the federal government spent in 2015, $3.2 trillion of it didn't require authorization by Congress that year. In other words, Congress only specifically approved 14% of what the federal government spent that year.
Over the years, this kind of autopilot spending authority exploded from $1.7 trillion in 1994 to $3.2 trillion by 2015. That's an 87% increase, after adjusting for inflation.
Permanent appropriations — to fund entitlements — climbed 81% over those years. But "offsetting collections" rocketed up by 126%. In 2015, federal agencies spent more than $421 billion this way. And contract authority — by which Congress lets agencies under certain conditions spend money before Congress approves it — has climbed 166% to $165 billion.