Tuesday, October 03, 2006

Federal spending in 2006 is set to rise by 9%

The Heritage Foundation's report (HT: CQ), 'Still Spending: Senate Set to Bust Budget Caps by $32 Billion', notes:
Federal spending in 2006 is set to rise 9 percent, the largest increase since 1990 and enough to earn Congress near failing grades from the Heritage Foundation’s third quarter report card.[1] Most families facing steep new expenses would cut back on additional spending. However, the Senate is preparing to bust fiscal year (FY) 2007 discretionary spending caps by at least $32 billion to:

1. Reimburse the Pentagon for the $9 billion raided from its budget earlier this year and given to domestic programs, as well as fund additional defense and border security programs ($26.8 billion in total);

2. Fund another massive farm subsidy bailout despite high subsidy levels and a booming farm economy ($4.2 billion); and

3. Reimburse NASA for funds that lawmakers had diverted into parochial pork projects ($1.0 billion)...

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