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The Bottom Line on Cost of Government Day
Friday, August 12, 2011 10:03 AM

Happy Cost of Government Day!

Break out the cake, get some ice cream, and order some pizza!

If you can afford it that is.

Today, August 12, 2011, is Cost of Government Day. That means that if you added up how much Americans made for the past 224 days, it would now equal the cost of running our government this year.

YAY!

Here are some facts on COGD:

It took 224 days for Americans to earn enough money to cover the cost of government this year, 226 days in 2009 and 2010.  Prior to 2009, Cost of Government Day never fell later than July 21.  In 2008, Cost of Government Day was July 16.

According to ATR, the cost of government is equivalent to 61.42 percent of the national annual income earned by the American workforce. 

The average American has to work 77 days alone to pay for his or her share of the U.S. regulatory burden.

And how does our government want to celebrate COGD? Why, more stimulus and tax increases!

The Americans for Tax Reform suggest two ways to fix this:

…repeal TARP and the stimulus plan – and pay federal employees at the private sector market rate. If both were adopted, ATR estimates federal spending would decrease enough to move COGD back to Aug. 3.  

The Bottom Line is this: Since 2001, there has been a 91.4 increase in federal spending. We cannot afford to bleed out any more cash into this sink hole of a government we have. We cannot afford it anymore, and need to make sure that in 2012 we rectify this situation.

EMAIL: thebottomline@afr.net

TWITTER: @afrbottomline

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http://www.cnsnews.com/news/article/224-days-later-americans-finally-earn-en

 

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