(C) Wisconsin Watch
This story was originally published by Wisconsin Watch and is unaltered.
. . . . . . . . . .
Did the US spend $6T last year compared with $4T four years ago? [1]
['Tom Kertscher', 'Wisconsin Watch', 'More Tom Kertscher', 'Fact Checker', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img']
Date: 2023-10-03 20:30:51+00:00
Reading Time: < 1 minute
Wisconsin Watch partners with Gigafact to produce fact briefs — bite-sized fact checks of trending claims. Read our methodology to learn how we check claims.
Yes.
The federal government spent $6.27 trillion in fiscal 2022, which covered Oct. 1, 2021, through Sept. 30, 2022, according to the Treasury Department.
That’s up 51% from $4.11 trillion four years earlier.
U.S. Sen. Ron Johnson, R-Wis., drew the contrast in a Sept. 26, 2023, interview.
Nonpartisan federal budget experts cited various factors to Wisconsin Watch.
Robert Bixby of the Concord Coalition said spending on Social Security and health care programs such as Medicare and Medicaid increased by $635 billion. “This is largely because of population aging and rising per-capita health care costs. In other words, they grow on autopilot,” he said.
Spending increased by roughly the same amount on programs responding to the COVID-19 pandemic, he said.
Marc Goldwein of the Committee for a Responsible Federal Budget said inflation was another factor.
For the first 11 months of fiscal 2023, federal spending was 3% higher than fiscal 2022.
This Fact Brief is responsive to conversations such as this one.
Sources
U.S. Treasury Department: Treasury Bulletin December 2022
U.S. Treasury Department: Treasury Bulletin December 2018
IHeart: The Vicki McKenna Show Ron Johnson interview
U.S. Treasury Department: How much has the US government spent this Year
Republish This Story Republish our articles for free, online or in print, under a Creative Commons license.
[END]
---
[1] Url:
https://wisconsinwatch.org/2023/10/fact-brief-us-government-spending/
Published and (C) by Wisconsin Watch
Content appears here under this condition or license: Creative Commons BY-ND 4.0 Intl.
via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/wisconsinwatch/
