(Click on Image to Enlarge)The Austerity Myth: Federal Spending Up 5% This Year -- Investors.com
When Republicans took control of the House in January, they pledged to make deep cuts in federal spending, and in April they succeeded in getting a bill advertised as cutting $38 billion from fiscal 2011's budget. Then in August, they pushed for a deal to cut another $2.4 trillion over the next decade.
Some analysts have blamed these spending cuts for this year's economic slowdown.
But data released by the Treasury Department on Friday show that, so far, there hasn't been any spending cuts at all.
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