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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.

The President’s (Clinton) 1998 budget calls for increases in total discretionary spending levels, particularly for nondefense programs.  The proposed spending levels for 1998 through 2002 are substantially above the 1997 budget resolution targets for that period and presumably will be an important focus of any budget negotiations between the Congress and the Administration.  In a time of constrained spending limits, there is an obvious need to make a convincing case to the Congress for any increases in annual appropriations.   Click here to verify at Page 2
In 1998, the Nation recorded its first budget surplus ($69.3 billion) since 1969.   Click here to verify at Page 5 - – – Or use URL:
Without a doubt, the [1998] improved budget outlook for the next decade has substantially improved the long-term outlook.  One reason for the changes is that the Balanced Budget Act has lowered projected Medicare outlays in 2007 by slightly more than 10 percent.  Because Medicare is one of the largest-growing programs, cutting its size significantly improves the long-run budget outlook.  Click here to verify at Pages 15-17
Programmatic mandatory spending accounts for the largest part of the growth in Federal spending as a percent of GDP since the 1950s. Major programs in this category include Social Security, Medicare, unemployment insurance, deposit insurance, and means-tested entitlements (Medicaid, SNAP (formerly food stamps), Supplemental Security Income, the refundable portions of the Earned Income and Child Tax Credits, and other programs subject to an income asset test). Except for Social Security, growth in programmatic mandatory spending has continued to outpace the growth in GDP since the mid-1970s due largely to Medicare and Medicaid. Click here to verify at Page 10 - – – Or use URL;
Economic growth in 2005 and 2006 produced a sharp increase in revenues, helping to reduce the deficit to $248 billion (1.9 percent of GDP) in 2006 and even further to $161 billion (1.2 percent of GDP) in 2007. Click here to verify at Page 6 - – – Or use URL;
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