QUESTION:

CBO Monthly Budget Review for May

The Federal Government incurred a deficit of $123 billion for the first nine months of fiscal year 2007, $83 billion less than the shortfall recorded during the same period in 2006.

Revenues have grown by more than 7 percent whereas outlays have grown by less than 3 percent.

Defense outlays grew by 6 percent over the nine months period, about the same rate of growth experienced in 2006.

Total spending for Medicare and Medicaid increased by 10 percent (on an adjusted basis) relative to the outlays in the first nine months of 2006, slightly below the gain of 11 percent in fiscal 2006.

Medicare and Medicaid both grew by 7.5 percent in the third quarter.

The nine percent decline in net outlays for other programs and activities primarily reflects lower spending for Flood Insurance, Disaster Assistance, and Agriculture Programs, as well as higher receipts for Medicare premiums and the auction of licenses to use the Electromagnetic Spectrum.
asked by grandpa24551, 7/7/2007
Categories: Medicaid, Medicare
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