Federal Spending Update

Total money appropriated by the House of Represenatives, as of today: $1.2 trillion.

Number of days in Obama Administration, as of today: 38.

Spending per day: $31.5 billion.

Annual spending per year at this rate: $11.5 trillion.

Just-released budget from the White House: projects deficit of $1.75 trillion.

With stimulus package and just-passed earmark-laden stimulus package version 1.5, the total resulting deficit for FY 2009-2010 will be three trillion dollars, which is to be added to a national debt already on track to exceed eleven trillion by the end of this fiscal year.

Right now, ten cents of every dollar you pay in taxes goes to servicing the federal debt. By 2016, ten cents of every dollar you earn will go to federal debt servicing. Just think about what that will mean for you.