The month of September marks the end of the fiscal year and the beginning of the federal government's annual spending frenzy. Federal agencies scramble to spend what's left in their budgets, in fear that leaving excess funds will prompt Congress to send less in the following year. We call it “use it or lose it” spending, and it happens every year.
Our latest OpenTheBooks.com oversight report on the fiscal year 2018 use-it-or-lose-it spending frenzy quantified $97 billion spent by federal agencies in September. This marks a 16-percent increase from fiscal year 2017 and a 39-percent increase from fiscal year 2015.
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