The CBO estimated in August that the FY2022 Budget will be $5.5 trillion! That is $1.9 trillion more in spending than the just-concluded FY2012 budget. Even if we incorporate the White House Cliff offer to “cut” spending by $400 billion over the next ten years, spending still goes up by $1.5T over the next decade which is a hike of $150 billion a year; which is well above the $50.875 billion a year that it rose from FY1992 through FY2000.
FACT OF THE DAY
