Government Cyber Spending to Increase Drastically

This was written by Michael Cheek on Monday, October 26, 2009, 8:44.

According to research conducted by the analytic firm Input, government spending on cyber security will increase at a compound rate of 8.1 percent between 2009 and 2014. Funding for contracted work will increase $3.8 billion from 2009 to 2014.

Government spending on general IT products and services will also increase by 3.5 percent for the same time period. The estimates were calculated by looking at present contracts and spending and evaluating the potential future spending based on pending legislation, economic analysis, the present budget and historical analysis of government spending trends. Congress is presently considering a several bills that deal with cyber security issues. Additionally, the Obama Administration has placed cyber security as a key priority.