Tuesday, April 13, 2010

Washington will spend $31,406 per household this year while collecting $18,276.

We typically hear about Washington DC overspending, but the following article really got my attention:

"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."

The powers that be are acting as if nothing is wrong while spending 31k, collecting 18k, and borrowing the rest. Will the average American still be sleeping while Obama slams their household with another $13,130 of debt in 2010? I guess we'll know come November. . .

Link to full article in St. Petersburg Times

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