Between Two Worlds
A Mix of Theology, Philosophy, Politics, and Culture
Tuesday, August 25, 2009
Spend, Tax, and Borrow
Sobering stats
: this year the federal government will:
spend $30,958 per household
tax $17,576 per household
borrow $13,392 per household
Federal spending, in particular, will
be increased by 22%
account for 26% of the gross domestic product (GDP)
By 2019, we'll be spending almost $800 billion just to pay net interest on our debt.
And none of these estimates include the cost of health-care reform!
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