The Humble Libertarian

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Thursday, May 24, 2012

REAL DEFICIT LAST YEAR: $5 TRILLION...



USA Today has an interesting piece on the 'real deficit'.....The government is spending $42,054 per household when average household income is $49,445. To balance the budget and live within our means would require that Americans pay the federal government nearly every cent they earn, and this doesn't even include state and other local taxes....America is rapidly approaching the point where it's fully plundered. Taxpayers are tapped out. The SSTF is wiped out. There isn't anything to squeeze out of a bankrupt nation mired in economic decline with mountains of unsustainable debt.
Read the rest here
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