Monday, April 12, 2010

A Federal Spending Snapshot

There are those who say that we need more government, not less.

There are those who say that federal spending is high, but the other party spends too much too, so what's the difference.

Well, get your mind around this. The Heritage Foundation's Brian Reidl notes that this year's federal largess comes to $31,406 per household. Adjusted for inflation, that's the highest ever.

Taxes are $18,276 per household. The difference of $13,130 is borrowing, of course, and that's also the highest ever, of course.

Don't believe that it's previous deficits that create this one, either. Interest on debt is presently $1585 per household, around 5% of total spending.

Read for yourself where the money is going, and feel free to decide what gets too much and what gets too little. Remember that we add the bills for ObamaCare next year, starting four years of tax prepayment to get that little matter started so that it can add even more to the spending and the deficits and the borrowing.

Remember also that the party of Jackson made last year's "emergency" spending the budgetary baseline for this and all subsequent years.

When your children's children are pushing wheelbarrows full of gazillion-dollar notes to the Piggly Wiggly to buy a loaf of stale, organic whole wheat bread, you'll know who to blame.

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