Tuesday, July 28, 2009
Federal Domestic Spending Increases 9.3 Percent in FY ’08
The federal government obligated nearly $2.79 trillion in domestic spending for fiscal year 2008, up 9.3 percent from 2007, according to a report released by the U.S. Census Bureau. That’s equivalent to a total of $9,184 per person living in the United States. Entitlement programs Medicare, Medicaid and Social Security comprised 48 percent of all federal spending, accounting for $1.35 trillion. Of that amount, $659 billion went to Social Security. The one-year increase in spending for these three programs was approximately $359 for every person in the United States.