May 11, 2013

18%, HERE WE COME:

Current deficit plunges 32% (Jeanne Sahadi, 5/07/13, CNNMoney)

Spending, meanwhile, fell 1.9% year over year, the CBO estimated.

The biggest percentage drop occurred in the payment of unemployment benefits, which were down nearly 25%, or $15 billion. Defense spending fell 5.3%, or $20 billion, and "other activities" -- primarily spending on nondefense programs -- fell 8.6%, or $58 billion.
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Less was spent, for instance, on housing assistance, energy programs and international assistance, along with the TARP bank bailout and on mortgage giants Fannie Mae and Freddie Mac.

Posted by at May 11, 2013 5:53 PM
  

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