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Contract Spending Decreased

10 Dec 2012

Contract Spending Decreased

The Washington Post reported that the Obama administration cut contract spending by more than $20 billion during fiscal 2012, largely by increasing coordination between agencies – buying together instead of independently. Contracts accounted for about 14% of all federal government spending during the past cycle, representing the lowest level since 2003.  Federal contract spending for FY12 was 6% below the FY09 level, representing a rare drop between the start and the end of a presidential term. The Defense Department accounted for slightly more than half of the reduction, trimming about $13 billion (attributed to a decrease in war spending) compared with the previous year. All other agencies cut about $11 billion combine

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