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Feb. 18, 2011
The Obama Administration released its $3.7 trillion budget request for FY2012 on February 14, 2011.
The following bar chart shows spending data for fiscal years 2008, 2010 and 2012. FY2008 was included because it is the last fiscal year before major increases in federal spending that resulted from the Troubled Asset Relief Program (TARP) and the American Recovery and Reinvestment Act of 2009 (ARRA), and because it is the baseline year for a number of the deficit reduction plans being considered in Washington. See our website for complete 2007-2013 spending data.
Items of Special Interest: The budget caps “non-security” discretionary spending for five years. Total FY2012 military spending shows a decrease over FY2011. This is due to a 26% decrease in war funding. Yet the Pentagon’s annual budget actually increases by roughly 1.5%. Transportation receives a significant increase to begin repair of our nation’s infrastructure and create jobs.
Highlights of FY2012 Budget Expenditures
FY 2012 Budget Authority: $3.7 Trillion