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.
|During the 1990s and up through the current decade there has been a shift away from defense to civilian agency employment. In recent years, civilian agency employment has been nearly twice that of the Department of Defense, accounting for 1.2 million of the 1.9 million total. Nevertheless, there has been a gradual decline in total Executive Branch civilian employment during the past two decades. Click here to verify at Page 9 - – – Or use URL; www.gpoaccess.gov/usbudget/fy10/pdf/hist.pdf|
|Even under current-law projections, however, debt would still be larger relative to GDP in 2022 than in any year between 1952 and 2009. Moreover, although long-term budget projections are highly uncertain, the aging of the population and rising costs for health care would almost certainly push federal spending up sharply relative to GDP after 2022 if current laws remained in effect. Click here to verify at Page 21|
|The Federal Government accounts holding the largest amount of Federal debt securities are the Social Security, civil service retirement, military retirement, and Medicare trust funds. However, amounts are also held by some other Government accounts. Click here to verify at Page 15 – – – Or use URL; www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/hist.pdf|
|Over the past four years, the central bank has more than tripled the size of its asset holdings and has diversified those holdings by purchasing significant amounts of riskier mortgage-backed securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae. Those securities are risky because of the possibility that borrowers will repay the underlying mortgages; securities that are riskier than Treasury securities generally pay higher yields as compensation for the added risk. In 2011, remittances totaled $83 billion, about 2 1/2 times their amount in 2008. Click here to verify at Pages 92-93|
|During the first 4 months of FY 2012, education spending dropped by $13 billion (or 43 percent), largely because of a decline in spending from funding provided in the American Recovery and Reinvestment Act of 2009. Click here to verify|