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Your Federal Tax Dollars. At Work?

Taxpayers wishing a resource in order to better understand the federal budget need look no further than the Heritage Foundation’s Budget Chart Book for Fiscal Year 2010. It’s chock full of 39 charts on federal spending and revenue, debt and deficits, and entitlements. For example, there are 11 charts that show how “government is spending at unprecedented levels, (and) posing an expensive threat to limited government.”

Let’s start by taking a look at how household spending has increased over the years. On an inflation-adjusted basis, per household federal spending has increased from $11,337 in 1965 to $31,088 today, and is expected to grow to $36,139 by 2020. The chart below is from the Heritage Foundation’s Budget Chart Book.

 

For further background information on President Obama’s FY 2010 budget, take a few minutes to read Backgrounder No. 2382 (requires Adobe) by Heritage budget fellow Brian Riedl, and how he “lays out how a $3 trillion tax hike and an additional $74,000 debt burden on every U.S. household will affect the country.” You can also watch Mr. Riedl on C-SPAN, February 4, 2010.

HT Heritage Foundation

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