Happy Cost of Government Day! You Worked for It

August 15, 2011


By GROVER NORQUIST

The drama of the last-minute vote to increase the debt ceiling by $2.5 trillion has focused on projected deficits of the federal government and how they will add to the national debt. Those numbers are large. The national debt was $10 trillion when President Obama was inaugurated and is expected to be $15.5 trillion at the end of the year.

Yet focusing on the deficit understates the true cost of government. In fact, this year’s deficit of $1.5 trillion is “only” 40% of federal spending. And while federal spending has jumped to $3.8 trillion in 2011 from $2.9 trillion in 2008—a 31% increase—that does not include state and local spending, which is estimated to total $1.6 trillion in 2011, according to new report from the Americans for Tax Reform Foundation (ATRF). Nor do these numbers include the cost of individuals and businesses complying with federal regulations: The total cost of such compliance is estimated to be $1.8 trillion.

read more

http://online.wsj.com/article/SB10001424053111904007304576498683254344262.html?fb_ref=wsj_share_FB&fb_source=profile_oneline

Advertisements

3 Responses to “Happy Cost of Government Day! You Worked for It”


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: