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April 12, 2010

Washington Spending $31,406 Per Household

Your government at waste. Washington is spending the equivalent of an additional low-ish income on every single household in America.

Taxpayers filing their 1040s are likely wondering just where all their hard-earned tax dollars are going, anyway.

• Washington will spend $31,406 per household in 2010 — the highest level in American history (adjusted for inflation). It will collect $18,276 per household in taxes. The remaining $13,130 represents this year's staggering budget deficit per household, which, along with all prior government debt, will be dumped in the laps of our children.

• Government spending has increased by $5,000 per household since 2008, and nearly $10,000 per household over the past decade.

Yet there is no free lunch: If spending is not reined in, then eventually taxes must also rise by $10,000 per household.

Social Security and Medicare cost just under $10,000 per household and then follows defense at $6,700. And then come the more cuttable costs.


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posted by Ace at 04:23 PM

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