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By Catholic Online (NEWS CONSORTIUM)

11/5/2013 (1 year ago)

Catholic Online (www.catholic.org)

CMS spent more in inflation-adjusted dollars than the entire federal government spent in 1965

It\'s a new record that few would be proud of. The Centers for Medicare and Medicaid Services spent a whopping $1,113,178,000,000 in fiscal 2013. The agencies, which run the federal government's major health-care programs as well as the Obamacare insurance exchange, spent the most money ever spent by a federal agency or department in a single year.

At $635.211 billion, federal spending on national defense in fiscal 2013 equaled only 57 percent of the money spent by CMS.

At $635.211 billion, federal spending on national defense in fiscal 2013 equaled only 57 percent of the money spent by CMS.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

11/5/2013 (1 year ago)

Published in Politics & Policy

Keywords: Medicare, CMS, money, budget, record


LOS ANGELES, CA (Catholic Online) - This figure was courtesy of the Monthly Treasury Statement for September, released last week. In short, the CMS spent more in inflation-adjusted dollars than the entire federal government spent in 1965! That year, coincidentally, marked the time then-President Lyndon Johnson signed the legislation creating the Medicaid and Medicare programs.

The entire federal government spent $118,228,000,000 in 1965 dollars, according to the Office of Management and Budget. That converts to $878,824,380,000 in 2013 dollars, according to the Bureau of Labor Statistics inflation calculator.

CMS became the first federal agency to spend more than a trillion dollars in 2010, when it spent $1,035,783,000,000. In 2011, CMS spent $1,095,406,000,000; in 2012, it spent $1,052,799,000,000; and, in 2013, it spent a record $1,113,178,000,000.

"CMS outlays more benefits than any other Federal agency," the fiscal 2014 budget justification that CMS has sent to the congressional appropriations committees reads.

"CMS remains the largest purchaser of health care in the United States," it says. "Our programs combined currently pay almost one-third of the Nation's health expenditures."

"With the implementation of the Affordable Care Act provisions, CMS has the opportunity to provide affordable health care to millions of additional Americans," the budget justification reads.

In contrast, the Department of Defense spent $607.801 billion, and total "national defense" spending by all federal agencies was $635.211 billion.

At $635.211 billion, federal spending on national defense in fiscal 2013 equaled only 57 percent of the money spent by CMS.

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