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Economic Perspectives
Vol. 3, No. 3, 1977
Last Updated: 05/31/1977

Business Insights: Federal Spending Lags Expectations

Morton B. Millenson

Federal government spending has been running substantially below forecasts since the beginning of January. Although the most recent congressional target for spending during fiscal 1977 (ending September 30) was set at $417 billion, actual spending during the January-March quarter was at an estimated annual rate of $398 billion.