Federal programs that transfer income projected to hit record
Federal spending programs that are “designed to transfer income … to individuals or families” are set to hit a record $3,223,943,000,000 in fiscal 2020, according to projections published by the Office of Management and Budget.
These so-called “payments for individuals” (as the OMB calls them) are projected to account for 67.9% of all federal spending this fiscal year and consume 14.4% of the…