Wednesday, March 09, 2011

Federal vs. Personal Spending

I just ran some quick numbers and was shocked to find that if
I use the 2011 federal budget numbers,

$2.2T Tax revenue (income)
$1.6T Deficit spending
$3.8T Total spending

it turns out that the deficit spending is 73% of tax revenue (income).

If a family makes $25K, they would be spending $43.25K using the federal budget percentages.
$50K income would be $86.5K in spending.
$75K income would be $129.75K in spending.
$100K income would be $173K in spending.

Sign me up!

We must return to the Constitution to dictate and limit federal spending.
We must also come to grips with the entitlement monster.  Now reports show that one-third of all wages paid in the United States are actually welfare payments!  Yikes!

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