February 27, 2013 By Fred Lucas
Inflation-adjusted spending by the Environmental Protection Agency (EPA) has increased by 51% since fiscal 2008, according to Treasury Department data. In 2008, EPA funding was $7,938,000,000, according to the final Monthly Treasury Statement for fiscal year 2008. That equals $8,464,894,460 in 2012 dollars, according to the Bureau of Labor Statistics inflation calculator. Meanwhile, EPA funding was $12,796,000,000 in fiscal year 2012. That’s a 51.1 percent increase over four years. The Obama administration has argued that severe consequences would occur if the sequester (automatic spending cuts) kicks in on Friday. If Congress and President Barack Obama cannot reach an agreement, there will be an automatic 1.2 percent reduction in the growth rate of government spending in this fiscal year, 2013, which amounts to $44 billion for this year. The entire federal budget is $3.6 trillion…..To Read More…..