New data shows the soaring cost of government contracts - August 2, 2019
By Andrew Eversden, Federal Times
Pentagon spending on federal contracts soared in fiscal year 2018, accounting for about $373 billion of $559 billion in overall contracting spend from federal agencies, according to Bloomberg Government’s 8th annual top 200 contractors report.
The spending by the Pentagon is a $40.5 billion increase from the previous fiscal year and over $90 billion rise since FY2015. Total government spending increased 9 percent from the previous fiscal year, from $512 billion in FY2017.
The $559 billion in FY2018 spending is the most since FY2010, when the government spent $562 billion.