SEQUESTRATION

Defense spending drops 8 percent in fiscal 2014

Defense spending dropped 8 percent, or $23.7 billion, in fiscal 2014, Federal Times is reporting.

Government-wide spending also dropped $17 billion, from $462 billion in fiscal 2013 to $445 billion in fiscal 2014.

However, civilian spending, even despite the general decrease in spending, saw an increase, with agencies such as Homeland Security, Health and Human Services, NASA, the Veterans Affairs Department and the Social Security Administration enjoying increases, Federal Times said.

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