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!