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Tuesday, December 13, 2005

Ponder This Fact for a Second

Sean Davis, a senior aide to Sen. Tom Coburn, R-OK, points out that during that second in which you were reading the headline to this post, your federal government spent nearly twice as much as the median average American household earns in an entire year:

"According to the Congressional Budget Office, the federal government spent nearly $2.5 trillion during the 2005 fiscal year: http://www.cbo.gov/ftpdocs/68xx/doc6837/11-2005-MBR.pdf. This means that, on average, the federal government spent nearly $6.8 billion each day, or $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: http://www.census.gov/prod/2005pubs/p60-229.pdf.
"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."