Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

7/16/2012 (2 years ago)

Catholic Online (www.catholic.org)

Americans work 88 days to pay for federal spending, report says

According to a new report, Americans have to work until July 15 to pay for government operating costs, i.e. more than six months. Americans for Tax Reform latest report has calculated that Americans will spend a total of 197 days working to pay for the cost of government.

Entitled 'Cost of Government Day,' illustrates that Americans will work 88 days to pay for federal spending, 40 days for state and local spending and 69 days for total regulatory costs.

Entitled "Cost of Government Day," illustrates that Americans will work 88 days to pay for federal spending, 40 days for state and local spending and 69 days for total regulatory costs.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

7/16/2012 (2 years ago)

Published in Politics & Policy

Keywords: Government spending, taxpayer, employment, labor


LOS ANGELES, CA (Catholic Online) - "Cost of Government Day is the date of the calendar year on which the average American worker has earned enough gross income to pay off his or her share of the spending and regulatory burden imposed by government at the federal, state and local levels," the report reads.

Entitled "Cost of Government Day," illustrates that Americans will work 88 days to pay for federal spending, 40 days for state and local spending and 69 days for total regulatory costs.

"While there is a slight improvement in the number of days worked to pay for federal spending this year, the growth of government remains the largest threat to American prosperity today.

"Taking spending from 20.8 percent of GDP in 2008 to 25.2 percent in 2009, the Obama Administration has overseen one of the largest expansions of the state in history.
In 2010, Congress passed and the President signed the Patient Protection and Affordable Care Act (PPACA). This massive overhaul of the country's health care system exploits the unfunded liabilities of the current entitlements while exacerbating the crisis of exploding health care costs.

"Ultimately, the health care bill could cost upwards of $2.3 trillion, paid for partially with hundreds of billions of new taxes on Americans.

At the time of this writing, the United States Supreme Court is considering the constitutionality of the President's health care law. If PPACA is completely overturned, it would relieve Americans of its twenty new or higher taxes and unbridle the country with its trillions in expected new spending. However, the country's fiscal future will still be greatly imperiled by trillions in coming tax hikes beginning at the end of the year, unsustainable entitlement programs and unrestrained discretionary spending.

"From a different perspective, the cost of government makes up 54.0 percent of annual gross domestic product (GDP)," reads the report. "What's more, the largest tax hike in the nation's history is scheduled to take place at the end of 2012 unless Congress acts to protect taxpayers. If this tax increase is allowed to hit, COGD [Cost of Government Day] could permanently be pushed back into August and beyond."

To read the full report, profusely illustrated with graphics, log on to: http://www.costofgovernment.org/files/files/COGD2012_hi%20res.pdf

.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for March 2015
Universal:
Scientists: That those involved in scientific research may serve the well-being of the whole human person.
Evangelization: Contribution of women: That the unique contribution of women to the life of the Church may be recognized always.



Comments


More Politics & Policy

Growing rift in the Republican party exposes the corruption within, thankfully dramatic change is coming Watch

Image of The rift is growing, one side represents itself, the other the basic principles of liberty, responsibility and freedom.

By Catholic Online (NEWS CONSORTIUM)

The media would have you believe there are two kinds of Republicans, the "moderate" Republicans and the "TEA Party" Republicans. This is an artificial construct, a myth perpetuated by the media. In reality, there is the Establishment versus the people. LOS ANGELES, CA ... continue reading


Where's the truth anymore?: Secretary of State John Kerry insists we will defeat ISIS Watch

Image of The destruction created by ISIS in Syria is unbelievable.

By Abigail James (NEWS CONSORTIUM)

The arrival of Israeli Prime Minister Benjamin Netanyahu, into the United States, has sparked controversy among the Congress and the Presidential administration. Although National Security Adviser, Susan Rice, stated Netanyahu's arrival would be "destructive to the ... continue reading


Saved in nick of time: Congress approves one-week bill to keep Department of Homeland Security open Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

Just just in time - with new terrorist concerns at an all-time high, Congress finally voted 357-60 in the House in order to keep the Department of Homeland Security open. The final vote came little more than an hour after the Senate cleared the measure. LOS ... continue reading


U.S. at War with Israel? Obama threatened to shoot down Israeli jets if they attempt to bomb Iran's nuclear facilities Watch

Image of The Netanyahu government decided to strike Iran some time in 2014 after Israel discovered the U.S. and Iran had been involved in secret talks over Iran's nuclear program and were about to sign an agreement without consulting Israel.

By Catholic Online (NEWS CONSORTIUM)

The news is SHOCKING. Evidently, U.S. President Barack Obama is either hidebound to improve relations between the U.S. and Iran, or no longer values Israel's friendship in the Middle East. According to Kuwaiti newspaper Al-Jarida, a reliable source says Obama ... continue reading


BANNING BULLETS: Obama to use executive action to ban ammo for popular hunting rifle Watch

Image of The inexpensive 5.56 M855 ammo, commonly called

By Catholic Online (NEWS CONSORTIUM)

Banning all firearms across the United States would take a massive effort, and certainly not many Americans would willingly give up their protection. According to a memo, U.S. President Barack Obama intends to use his executive powers to ban the bullets for the ... continue reading


Abercrombie & Fitch's 'looks policy' under fire for stark employee discrimination of Muslim girl Watch

Image of

By Abigail James (NEWS CONSORTIUM)

Abercrombie & Fitch faces yet another lawsuit for potential discrimination. The hip clothing store has previously been under fire for lack of racial diversity in both employment and advertisement and for limited sizing choices. LOS ANGELES, CA (Catholic Online) - ... continue reading


SHOCKING REPORT: Social Security card in hand, illegal immigrants can claim back tax benefits Watch

Image of Lawmakers have expressed distress that amnestied illegal immigrants could be potentially rewarded for illegal work.

By Catholic Online (NEWS CONSORTIUM)

Workers living and employed here illegally appear to be on a fast track to join the American dream. According to a Congressional Research Service, or CRS, memo, those illegal immigrants able to obtain Social Security Numbers and work permits due to President ... continue reading


NOT SO FAST! Net neutrality to get onceover before approval Watch

Image of Democrat Mignon Clyburn on the Federal Communications Commission wants to narrow the scope of new net neutrality rules set for a vote later this week.

By Catholic Online (NEWS CONSORTIUM)

The hotly debated "Net Neutrality" - which will determine how the 21st Century's preferred mode of communication and information - is not a sure thing, just yet. Democrat Mignon Clyburn on the Federal Communications Commission wants to narrow the scope of new ... continue reading


Democrats can dish it out - but are now shying away from Obamacare penalties Watch

Image of As those taxpayers discover the penalty they owe, they will already be racking up a new, higher penalty for 2015.

By Catholic Online (NEWS CONSORTIUM)

It looks like Democrats can dish it out, but can't take it. One of the stipulations of health care reform, or "Obamacare" was those who chose not to enroll had to pay a penalty come tax time. Now, as millions begin to file their taxes, Democrats are having ... continue reading


Human Tide: Texas' porous border allows thousands to flood in from Mexico Watch

Image of Speaking out on CBS's

By Catholic Online (NEWS CONSORTIUM)

Porous borders - one where demarcations are hazy and ill-defined, allowing people to cross over into another country without proper accounting, was one of the reasons for the Ebola crisis in East Africa. There exists a similar situation between the United ... continue reading


All Politics & Policy News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Jeremiah 18:18-20
18 'Come on,' they said, 'let us concoct a plot ... Read More

Psalm, Psalms 31:5-6, 14, 15-16
5 to your hands I commit my spirit, by you have I ... Read More

Gospel, Matthew 20:17-28
17 Jesus was going up to Jerusalem, and on the road ... Read More

Saint of the Day

Saint of the Day for March 4th, 2015 Image

St. Casimir
March 4: Casimir grew up in a world where his life was not his own. As a ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter