According to the Congressional Budget Office, the federal government spent nearly $2.5 trillion during the 2005 fiscal year. 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.
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.
If we update these numbers for fiscal year 2010, we see that it's gotten even worse. The CBO reports that the federal government spent $3.5 trillion in 2010 (an almost 40% spending increase in 5 years). That breaks down to $9.5 billion each day and $110,984 per second. Median household income has gone up, too, but only by 11% (up to $49,445). Now the federal government spends two and a quarter times as much money per second as the average American makes per year.
A lot of folks these days like to talk about things that are "unsustainable". I find this unsustainable.
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