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Historic Government Spending On The Way

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WEB Notes: These government entities reduced their spending when they had too, now flush with cash, they are going to spend it all. You see government entities spend it or lose it. If they do not spend all of their allotment, then they are allocated less money during the next fiscal year. So spend, spend, spend is the motto unfortunatly.

A government spending spree of potentially historic proportions will play out over the final seven weeks of fiscal 2018, as federal agencies look to spend $140 billion more than they thought they’d get before Congress passed and President Trump signed the omnibus spending bill.

Without a budget agreement in place, agencies spent cautiously through the first two quarters of fiscal 2018 before the omnibus—signed six months late in March—obligated an additional $80 billion for defense and $63 billion for civilian agencies.

Federal agencies, now flush with cash, must obligate that money before the fiscal year ends on Sept. 30 or lose it to the Treasury Department. Analysts believe the federal market will see a monumental effort among procurement officials to spend as much on contracts as possible.

Source: Get Ready for a Massive Government Spending Spree – Nextgov

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1 Comment

  1. It is quite a stupid way to do business. If businesses did this, they would all be defunct. No storehouses, because they do not have God our Father.

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