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Re: NOTHINGS SHOCKING: Shock Report: 86% Of Government Spending Is Now On Autopilot. 

By: ribit in POPE 5 | Recommend this post (2)
Tue, 18 Dec 18 5:15 PM | 59 view(s)
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Msg. 17223 of 62138
(This msg. is a reply to 17191 by capt_nemo)

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...like an old drunk I knew who spent most of his money on liquor and women. Says he just wasted the rest of it/




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Liberals are like a "Slinky". Totally useless, but somehow ya can't help but smile when you see one tumble down a flight of stairs!




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The above is a reply to the following message:
NOTHING’S SHOCKING: Shock Report: 86% Of Government Spending Is Now On Autopilot.
By: capt_nemo
in POPE 5
Tue, 18 Dec 18 7:26 AM
Msg. 17191 of 62138

The new report from the Government Accountability Office — a federal auditing agency — shows that of the $3.7 trillion the federal government spent in 2015, $3.2 trillion of it didn’t require authorization by Congress that year. In other words, Congress only specifically approved 14% of what the federal government spent that year.

Over the years, Congress has passed laws that allow federal spending without any annual congressional approval. The biggest chunk is for so-called “entitlement programs” like Social Security, Medicare, Medicaid and welfare. Congress provided these programs with “permanent appropriations.” Spending levels are set automatically, based on eligibility rules and benefit amounts.

Over the years, this kind of autopilot spending authority exploded from $1.7 trillion in 1994 to $3.2 trillion by 2015. That’s an 87% increase, after adjusting for inflation.

The US population has increased by 24% since 1994, so “autopilot spending” per capita — again, mostly entitlements — has increased by nearly 66%.

http://www.investmentwatchblog.com/nothings-shocking-shock-report-86-of-government-spending-is-now-on-autopilot/


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