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'


2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for November 2014
Lonely people:
That all who suffer loneliness may experience the closeness of God and the support of others.
Mentors of seminarians and religious: That young seminarians and religious may have wise and well-formed mentors.



Comments


More Politics & Policy

A distinct euphemism: Health care reform was 'political miscalculation,' Schumer says Watch

Image of When the Democratic Party focused in exclusion to all else, on health care, he added,

By Catholic Online (NEWS CONSORTIUM)

One apt euphemism - which is essentially a nice term very a not-at-all-nice term, is the phrase, "Economical with the truth," i.e. lying. Senator Charles Schumer of New York, in summarizing the massive loss by democrats in elections earlier this month, said ... continue reading


The man behind the mess of Obamacare wants you to encourage abortion! Watch

Image of John Gruber, the man behind Obamacare, is an ardent supporter of abortion.

By Catholic Online (NEWS CONSORTIUM)

The architect of the Affordable Care Act (ACA), John Gruber, has made a fool of President Obama and the Democrats in his administration once again. LOS ANGELES, CA (Catholic Online) - Gruber has been recorded numerous times admitting that the ACA was written and ... continue reading


Should Obama be able to use the IRS as a weapon to target conservative opponents? Watch

Image of President Obama has used the IRS as a weapon to target Tea Party and conservative opponents.

By Catholic Online (NEWS CONSORTIUM)

It should come as a surprise to no one that fraud and power abuse is rampant in President Obama's White House, and the new scandal fall on the heals of the old IRS tax scandals of the last few years. LOS ANGELES, CA (Catholic Online) - The Treasury Inspector ... continue reading


Medicare, Social Security - all for illegal immigrants, thanks to Obama Watch

Image of In other words, those who work, which includes payroll taxes -- also known as FICA, as they are collected under the Federal Insurance Contributions Act.

By Catholic Online (NEWS CONSORTIUM)

In President Obama's new plan to protect millions of illegal immigrants from deportation, many of these same individuals will be eligible to receive Social Security, Medicare and a wide array of other federal benefits. LOS ANGELES, CA (Catholic Online) - ... continue reading


Obama's war on America continues with secret Thanksgiving regulations dump Watch

Image of President Obama is going to release a new set of regulations over the Thanksgiving holiday, when many Americans are unlike to notice.

By Catholic Online (NEWS CONSORTIUM)

Not content to listen to the voice of the American people after the 2014 midterm election, President Obama is set on continuing his power grab, and forcing his will whether Americans like it or not. LOS ANGELES, CA (Catholic Online) - The White House is getting ... continue reading


Sen. Graham: Benghazi report misses information and is 'garbage' Watch

Image of Sen. Graham said he will take a 'hard look' at the new report.

By Catholic Online (NEWS CONSORTIUM)

Senator Lindsey Graham (R-SC) has blasted the Benghazi report recently released by the house Intelligence Committee. Graham says the report, released on Friday, is inaccurate, and called it "full of crap." LOS ANGELES, CA (Catholic Online) - Saying he thought "the ... continue reading


Seventh terrorist suspect released from Guantanamo in two weeks; Republicans protest Watch

Image of Muhammad al-Zahrani, became the 13th prisoner released this year and the seventh in just two weeks.

By Catholic Online (NEWS CONSORTIUM)

A Saudi Arabian man has been released from the terrorist holding facility Guantanamo Bay. He was the seventh such suspect in two weeks to have been transferred from the United States to another nation. The practice has created a great hue and cry among Republicans, who ... continue reading


The Immigration Conflagration and the Dangers of a Benevolent Dictator

Image of

By Keith A. Fournier

There is no question that comprehensive immigration reform is needed. Most people acknowledge this as a fact. However, the truth is President Obama could have participated in such reform, and he knows it, by working with the 114th Congress which will soon be sworn ... continue reading


Running out the door, Republicans too busy with Thanksgiving to address laws Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

With Thanksgiving turkeys dancing in their heads, many Republican lawmakers are running out the door in lieu of considering a plethora of new legislation. Republican members have discussed resolutions of disapproval and censure. One unnamed lawmaker was ... continue reading


The TOP 10 list of countries where slavery is most prevalent. DO YOU BENEFIT FROM SLAVERY? You might be shocked! Watch

Image of Poor Haitians are commonly enslaved by wealthier family members.

By Catholic Online (NEWS CONSORTIUM)

Last week it was announced that some 36 million people around the world live in slavery, a number that is higher than at any time in history. While most Americans feel that slavery is a distant problem, which has little or no effect on their lives, the sad fact is that ... 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, Revelation 22:1-7
1 Then the angel showed me the river of life, rising ... Read More

Psalm, Psalms 95:1-2, 3-5, 6-7
1 Come, let us cry out with joy to Yahweh, acclaim ... Read More

Gospel, Luke 21:34-36
34 'Watch yourselves, or your hearts will be ... Read More

Saint of the Day

Saint of the Day for November 29th, 2014 Image

St. Saturninus
November 29: St. Saturninus Bishop of Toulouse and Martyr November 29 A.D. ... 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