Tag Archives: Government Spending

GAO Report on Government Contracting Finds Overall Decrease from 2011-2015 and Most Obligations on Service Contracts

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Every year, billions of dollars in products and services are needed to keep running the U.S. federal government’s 18 cabinet-level departments and nearly 100 other independent agencies. In March 2017, the Government Accountability Office (GAO) released results of its one-year audit of the government’s contracts between fiscal years 2011 and 2015 (including its fixed price, cost-reimbursement, and time-and-materials/labor hour contracts). Overall, GAO’s report shows a 24 percent decrease in government-wide contracting in FY 2015 from FY 2011 levels (a drop of approximately $438 billion), with [...]Read more