Skip to comments.Real Federal Spending Up $822.90 Per American Since 2008
Posted on 02/23/2013 6:56:16 PM PST by NoLibZone
Inflation-adjusted per capita federal spending went up $822.90 from fiscal 2008 to fiscal 2012, according to official data from the U.S. Treasury and the Census Bureau.
Real federal spending also increased $2437.64 per household between 2008 and 2012.
In constant 2012 dollars, the federal government spent $3,176,376,470,000 in 2008 and $3,538,446,000,000 in 2012, according to the U.S. Treasury. (The 2008 spending number was adjusted to 2012 dollars using the Bureau of Labor Statistics inflation calculator.)
On April 1, 2008 (the midpoint in the federal fiscal year which ends on Sept. 30), there were 303,381,938 people in the United States, according to the U.S. Census Bureau, and on April 1, 2012 there were 313,336,712.
The $3,176,376,470,000 that the federal government spent in fiscal 2008 equaled $10,469.89 for each of the 303,381,938 people who lived in the United States that year. The $3,538,446,000,000 the federal government spent in fiscal 2012 equaled $11,292.79 for each of the 313,336,712 people who lived in the United States that year.
Thus from fiscal 2008 to fiscal 2012 inflation-adjusted federal spending per person increased by $822.90.
That means that over the past four years, the federal government has increased its spending on average by about another $206 each year for every man, woman and child in the country.
There were 111,115,000 households in the country in April 2008 (the midpoint in the fiscal year) and 114,055,000 households in April 2012. The $3,176,376,470,000 the federal government spent in fiscal 2008 equaled $28,586.39 per household. The $3,538,446,000,000 the federal government spent in fiscal 2012 equaled $31,024.03 per household. Thus from fiscal 2008 to fiscal 2012 inflation-adjusted federal spending per household increased by $2437.64.
(Excerpt) Read more at cnsnews.com ...
Isn't it more like $1645.80 per capita for 50% of the population and $0 more per capita spending for the other 50%?
We really need to thank the Chinese for loaning us this money, and at the same time ask forgiveness for our kids who will have to pay it back. But it is fun spending, spending. Eat, Drink and be merry, because after the piper has played he must be paid.
Certainly the Chinese should be thanked, but there are many others to be thanked as well.
First, the Fed, for making all the spending possible. Then, there are the government vendors of print and paper.
Yes, I had a similar thought, that any reports of spending per capita or per household should include disclosures that show that spending per TAXPAYER.
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