Monthly Budget Review: March, 2008
by Craig Jennings, 4/8/2008
CBO estimates that the government incurred a deficit of $310 billion in the first half of 2008. The deficit last year at the same point in time was $258 billion. The $51 billion increase in the deficit through March was largely unaffected by differences in the timing of receipts or expenditures.
A number of programs experienced double-digit percentage increases in spending in the first half of the year—including food and nutrition programs, unemployment benefits, veterans' health care, federal-aid highways, and community development block grants.
Interest on the debt, however, continues to be the fastest growing category of spending.
CBO: Monthly Budget Review
