The spendthrift U.S. government.

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Wednesday, May 3. 2006

The spendthrift U.S. government.


(Bill Bonner, The Daily Reckoning)

According to the Congressional Budget Office, the federal government spent nearly $2.5 trillion during the 2005 fiscal year. This means that, on average, the federal government spent nearly $6.8 billion each day, or approximately $78,418 per second. The Census Bureau estimates that in 2004 (the latest year for which data are available), median household income in the U.S. was $44,389. In short, the federal government spends almost twice as much money in only one second as a typical American household earns in an entire year.

"If it took you six or seven seconds to read this, the U.S. government spent half a million dollars during that time—around half of it related to war!"
Posted by Xanthous in Newz Flash at 19:12 | Comments (0) | Trackbacks (0)
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