Same old thing: Tax and Spend | Citizens Against Government Waste

Same old thing: Tax and Spend

The WasteWatcher

We were provided a joint analysis of President Obama’s budget by the House and Senate Republican Budget Committees. Here is all you need to know about President Obama’s budget proposal that was released yesteday.

  1. It is over two months late.
  2. It never balances the budget.
  3. It spends $154 billion more in 2014.
  4. Provides for additional spending in FY 2013 of $61 billion.
  5. Total spending over the next ten years is $46.5 trillion.
  6. In 2023, the deficit is $439 billion, interest on the debt is $763 billion, and total debt is $25.4 trillion.
  7. Raises new tax revenue by $1.1 trillion, above the $1 trillion in taxes found in Obamacare and the $600 billion in taxes raised earlier this year.
  8. Each household in the US sees their responsibility for the debt increase to $60,980.

So you understand how much $1 trillion is, think of it this way.  If I was to give you a dollar every second, how long would it take before you had $1 trillion? Give up? 32,000 years.  Keep in mind, this is just $1 trillion, our nation's debt is far greater.          

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