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Federal Spending – Fast Facts

All fast facts for Federal Spending are from the non-partisan Congressional Budget Office (CBO), the National Commission on Fiscal Responsibility and Reform (NCFRR), and the Office of Management and Budget (OMB), and the U.S. Government Accountability Office (GAO). They do not represent all of their reports on this subject. Some simply provide historical context. Occasionally minor word adjustments may have been made for clarity or to reflect the updated nature of the statement. As always, verify and view statements in their full context as often as possible.

CBO has long held that the federal government has subsidized the operation of Fannie Mae and Freddie Mac by providing what some have called an “implicit guarantee” of the GSEs’ debt. However, the federal government has never recognized the cost of the subsidy in its budget.   Click here to verify at Page 26
The decline in defense spending as a percentage of GDP that began in 1973 was more than offset by increased spending on human resources programs during the 1970s – due to the maturation of the Social Security program and increases in education and training, general and Federal employee retirement and other income support programs, such as food stamps (due largely to recessions) unemployment assistance, as well as a takeoff in spending on Great Society programs (such as Medicare and Medicaid), so that total spending increased as a percent of GDP, averaging 20.1 percent during the 1970s (also reflecting, in part, the substantial increase in grants to state and local governments during the 1970s). Click here to verify at Page 8 - – – Or use URL; www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/hist.pdf
In the baseline (laws as of January 2012 remain unchanged), discretionary spending is projected to decline to 5.6 percent of GDP in 2022—the lowest level in the past 50 years.   Those constraining factors will be partially offset by increases in spending for mandatory programs, particularly Social Security, Medicare, Medicaid, and other federal health care programs: Mandatory spending is projected to climb from 13.3 percent of GDP in 2013 to 14.3 percent in 2022.    Click here to verify at Page xii
The Congressional Budget Act of 1974 requires the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) to provide estimates of the budgetary effects of all legislative proposals reported by a Congressional committee.  Click here to verify at Page 9
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Voting Key


Fact = 100% - 92% True
Mostly Fact = 91% - 75% True
Slightly Fact = 74% - 60% True
Split = 59% - 50% True
Slightly Fiction = 49% - 30% True
Mostly Fiction = 29% - 10% True
Fiction = 9% - 0% True