( – promoted by Rob “EaBo Clipper” Eno)
Try and wrap your head around this recent statistic being published by Terence Jeffrey in his new book ‘Completely Predictable’.
In 2012, the most recent year for which these numbers are available, research reveals that the total amount spent by local, state and federal government on the average household is $50,074. The same year the average household income was $49,445. Simply put, the government is spending more per household that the household is earning.
Government in the United States, of course, has not always spent more per year than the median household earns. As recently as 2000, the relationship between government spending and household income was dramatically different.
Data from the Census Bureau and the OMB show that in that year net spending by all levels of government was $3,239,913,876,000. That equaled $29,941 for each of the nation’s then 108,209,000 households. In 2000, the median household income was $41,990.
Thus, between 2000 and 2010, government in this country went from spending $12,049 less than the median household income to spending $629 more.
The author comes to this ‘obvious’ conclusion:
I calculated the total net government spending per household in 2010 for my new book, “Completely Predictable.” I think the number demonstrates how completely predictable the fiscal crisis our country faces has become.
A nation whose government spends more than the typical family earns is on the road to ruin.
This is not a problem with taxing the top 1% too little. This is a problem with the government, at all levels, utilizing a policy of runaway appending to try and fix the problems, perceived and otherwise, that America has. We need to stop spending money. We ABSOLUTELY need to stop spending more than we earn.