Overshadowed by the President's budget release, the Congressional Budget Office released its monthly budget review for December 2005 this past Monday. CBO estimates the federal government ran a deficit of $95 billion over the first four months of FY 2006. This is $15 billion less than the same period last year. The two largest increases in spending over the first four months were in the Medicare program (11.9 percent - and that is mostly excluding spending on the new prescription drug benefit that will really kick in later this year) and in interest on the debt (23.5 percent). Interest on the debt was substantially higher due to fluxuations in short-term interest rates, higher inflation, and the growing deficit and continues to be the fastest growing category of spending across the federal government. CBO Monthly Budget Review