President Obama Will Release $3 Trillion Annual Budget Today
by News Editor
Bloomberg – President Barack Obama’s budget today will outline his ideas for how the government may spend more than $3 trillion in the next fiscal year, starting Oct. 1. There’s no similar document accounting for where taxpayers’ money actually goes.
At least three federal sources tally spending, each following its own rules to produce a different total. For the 15 Cabinet-level agencies and Social Security, the White House Office of Management and Budget put expenses at $3.18 trillion in fiscal 2010, the last year for which data are complete. Ask the Census Bureau, and the amount rises by $13.1 billion to $3.19 trillion. USASpending.gov, a website Obama championed as a senator, accounts for $2.23 trillion of spending.