Mandatory Spending Since 1962
Description:
Federal spending is divided into three broad categories: discretionary spending, mandatory spending, and net interest. Federal spending has outrun federal revenues for the last 10 fiscal years. In the long term, projections suggest that if current policies remain unchanged, the United States faces a major fiscal imbalance, largely due to rising health care costs and impending Baby Boomer retirements. Because discretionary spending is a smaller proportion of total federal outlays compared to man…
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Date:
March 23, 2012
Creator:
Austin, D. Andrew & Levit, Mindy R.
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