Obama is about to unleash a $3.552 TRILLION budget on this poor nation. So, if we each of us were expected to fork over our share of that tab, what would it cost us? Well, according to Toby Harnden, blogger for the Daily Telegraph, it would amount to $25,573.48 each.
I don’t know about you but, I just don’t have it.
So how much will President Barack Obama’s budget cost us? The projected 2010 budget of $3.552 trillion can be found on page 114 of the “New Era of Responsibility” budget here.
The US Census bureau estimates that the current US population is 304,059,724. Dividing the $3.552 trillion by that gives us close to the $11,833 that Drudge came up with. ABC’s Jake Tapper reports that there wil be $989 billion in new taxes over the next decade.
I’m an American taxpayer and the starkest figure is what this could cost me. The latest figure I could find for the number of US taxpayers is 138,893,908 returns in 2007 here. By my reckoning, that’s $25, 573.48 each.
Moe Lane
Steve Maley
Dan McLaughlin
Neil Stevens
Daniel Horowitz
Actually, that share is gonna grow per TAXPAYER
Crowe (Diary) Friday, February 27th at 9:20AM EST (link)As the rollback of the 1996 welfare reform swells the welfare rolls the number of taxpayers will drop.
I learned the theories and laws of mathematics well enough in grade school to know that, given a stable dividend, when the divisor drops, the quotient goes up. I never liked math.
AND, don’t forget that this figure is just the breakdown of the per-taxpayer share of the budget; it doesn’t include the de-stimulus or the various and sundry bailouts and nationalizations.
“We sleep soundly in our beds only because
rough men stand ready in the night to visit violence upon those who would do us harmDear Leader Obama gives us leave to do so.”I'm no math expert, but I tried to calculate porkulous...
JDidSaint Friday, February 27th at 11:25AM EST (link)From my understanding, the impact on the deficit for the “stimulus” package is, in billions: 184.9 (2009), 399.4 (2010), 134.4 (2011), 36.1 (2012), 27.6 (2013), 22.4 (2014), 4.7 (2015), -7.3 (2016), -7.5 (2017), -6.1 (2018), -1.4 (2019).
This will lead to a principal debt of 7.8 trillion. That’s $7,812,620,000,000 by 2019 where the deficit will remain $787.2bn higher than before it was signed.
Someone please check my math. Note that this doesn’t include interest on the debt, only the principal amount.
If the above is correct, that would translate to a $25,694.36 loan per citizen.
Source: http://www.cbo.gov/ftpdocs/99xx/doc9989/hr1conference.pdf
“I’d rather go through the pain of the re-emergence of free markets than endure the long suffering of a socialist state. One is natural and comes from that spark of human desire; the other is imposed and smothers the flame of ingenuity.”-Crowe (from RedState!)
Hmmm...
JDidSaint Friday, February 27th at 11:56AM EST (link)Actually, I’m thinking I did do the math wrong there. I’m assuming that the deficit is cumulative (ie. if the budget deficit is x in 2008, and addition of 184.9 makes the deficit x+184.9 in 2009, then an addition of 399.4 makes it x+184.9+399.4 in 2010.)
Because I haven’t seen the numbers I came up with anywhere else, I assume that the CBO’s numbers are in contrast to the present deficit instead of the deficit of the previous year (ie. the deficit in 2009 is x+184.9, in 2010 it is x+399.4, etc.)
This seems counter intuitive to me, but then I’m not in finance.
Still, the Heritage foundation estimates the cost of the “stimulus” at 3.27 trillion which would be $10,754 per citizen.
Source: http://michellemalkin.com/2009/02/12/the-true-generational-theft-act-price-tag-327-trillion/
“I’d rather go through the pain of the re-emergence of free markets than endure the long suffering of a socialist state. One is natural and comes from that spark of human desire; the other is imposed and smothers the flame of ingenuity.”-Crowe (from RedState!)
Obummer tackles pet projects
6eorge Jetson (Diary) Friday, February 27th at 10:17AM EST (link)as he jumps on everyone he sees…
You've heard pf squeezing blood from a rock,
johnt Friday, February 27th at 11:35AM EST (link)hello Rock !
Liberals [?] are going to love this, don’t make it easier or more enjoyable for them though, don’t scream.
“a man’s admiration for absolute government is proportinate to the contempt he feels for those around him”. Tocqueville