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Diane Publishing Books
Sheila Campbell (au); Natalie Tawil (au)
The federal government pays for a wide range of goods and services that are expected to be useful some years in the future. Those purchases, called investment, fall into three categories: physical capital, R&D, and education and training. In 2012, the federal government spent $531 billion on investment, representing 15% of federal spending and 3% of gross domestic product (GDP). Those shares have remained roughly stable over the past 20 years, though investment by the federal government approached 4% of GDP in 2010 and 2011 after the Am. Recovery and Reinvestment Act of 2009 (ARRA, Public Law 111-5) temporarily expanded funding for a number of investment programs. This report shows that federal investment has gradually declined as a proportion of discretionary spending, and discretionary spending as a whole has fallen as a share of total federal spending since the 1960s. Caps on appropriations put in place by the Budget Control Act of 2011 will decrease future discretionary spending through 2021 relative to what it would have been if annual appropriations had grown at the rate of inflation after 2011. Figures. This is a print on demand report.
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