Thursday, April 11, 2013

Completely Predictable

Completely Predictable | Sumner Books:
"That means total net government spending per household ($50,074) exceeded median household income (49,445) by $629.
Government in the United States, of course, has not always spent more per year than the median household earns.
As recently as 2000, the relationship between government spending and household income was dramatically different.
Data from the Census Bureau and the OMB show that in that year net spending by all levels of government was $3,239,913,876,000.
That equaled $29,941 for each of the nation’s then 108,209,000 households. In 2000, the median household income was $41,990.
Thus, between 2000 and 2010, government in this country went from spending $12,049 less than the median household income to spending $629 more."

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