The Treasury Department is touting progress in lowering federal spending since President Donald Trump returned to the White House in January.Treasury officials are touting data showing a decline in year-over-year federal spending growth relative to the final full year of the Biden administration. The Trump administration's data shows federal spending was up 7.1% year over year in the second quarter of 2024, before accelerating to 28.5% in the third quarter and 10.9% in the fourth quarter.In the first quarter of 2025, when the transfer of power between the Biden and Trump administrations occurr...

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