We know what happens when we spend like this . . .
Million Dollar Goal has a great post regarding the national debt. “Approximately 18 cents out of every dollar of total tax revenue collected is immediately used merely to pay the burgeoning interest on the Federal debt. Thus, absolutely no governmental services or benefits are delivered in return for 18 percent (nearly 1 out of every 5 dollars) of our total Federal tax bill. “
We can argue long and hard about how much we pay in taxes, but I think we’d all agree that this is an insanely inefficient way of managing our government’s finances. We know we shouldn’t run our personal finances like this, but we don’t question our leaders for a policy of borrowing today at the expense of our future.
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February 5th, 2006 at 3:41 pm
That sucks!
yet another demonstration of how the government is a poor decision-maker when it comes to spending our tax dollars.