(CNSNews.com) – Subsidies to businesses in the federal budget in Fiscal Year 2012 cost taxpayers almost $100 billion, according to a new report from the Cato Institute.
Advertisement – story continues below
“That includes direct and indirect subsidies to small businesses, large corporations, and industry organizations,” the libertarian think-tank said in its latest policy analysis.
The subsidies are handed out from programs in many federal departments, including the departments of Agriculture, Commerce, Energy, and Housing and Urban Development, the report noted.
At the same time, the federal government will run its fourth consecutive deficit in excess of $1 trillion this year.
Read more at CNSNews.com. By Sabrina Gladstone.