Those following the ever encroaching progression of the US welfare state will hardly be surprised by the latest data on US government spending broken down by the 11 largest outlays: spending on almost everything was down or unchanged in the first fiscal quarter of 2014 compared to a year ago except for healthcare and, of course, social security, which has finally caught up with the government's medicare and medicaid outlays. The good news: as a result of still low interest rates, and the Fed's check-kiting remittance of interest on monetized debt, Treasury outlays have tumbled to less than $100 billion in the quarter. This number will not stay this low for long.
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Source: US Treasury