This report provides information on the historical budget authority for veterans' benefits and services for FY1940 through FY2012, and a brief discussion of major changes in budget authority over this period. Budget authority is presented in both current dollars and constant 2011 dollars (i.e., inflation-adjusted). In constant 2011 dollars, the FY2012 budget authority is 1 4 times the FY1940 budget authority and reflects a 3.8% average annual growth rate over the period. In current dollars, the FY1947 budget authority was 14.9 times the FY1940 pre-war budget authority for veterans. Over time, the increases in the budget authority for veterans' benefits and services have reflected the impact of increases in the number of veterans as the result of wars and other conflicts, the aging of the veteran population, and changes in the benefits and services provided for veterans.
Budget authority—the amount of money a federal department or agency can spend or obligate to spend by law—for veterans' benefits and services has increased significantly since FY1940. In FY1940, the budget authority for veterans' benefits and services was $561.1 million, and in FY2012 the budget authority was $125.3 billion, or more than 200 times the FY1940 budget authority. In constant 2011 dollars (i.e., inflation-adjusted), the FY2012 budget authority is 14 times the FY1940 budget authority. The increases over time have reflected the impact of increases in the number of veterans as the result of wars and other conflicts, the aging of the veteran population, and changes in benefits and services provided for veterans. This report provides information on the historical budget authority of the Department of Veterans Affairs (formerly the Veterans Administration) for FY1940 through FY2012. Budget authority is presented in both current dollars and constant 2011 dollars.
This report will be updated as additional information becomes available.