According to The Heritage Fundation, that’s how much the stimulus package will cost each American family.
Many people have trouble picturing such an enormous amount of money. To put it into perspective, $825 billion is worth approximately $10,520 for each family in the United States, or $22,445 for each family with children under the age of 18.
A good friend likened this to the government running up his credit cards; Federal-level identity theft if you may.
According to the 2007 Consumer Expenditure Survey (CES), families with children under 18 spend, on average:
* $2,470 on apparel and services,
* $2,668 on health care,
* $4,402 on food at home, and
* $12,739 on shelter.
Taken together, families with children under 18 spend, on average, $22,279 annually–almost 37 percent of total average annual family spending–on these goods and services. If this group were required to fund the stimulus bill, it would be similar to saddling them with debt equivalent to their budgets for clothing, health care, food, and housing for one year.
So this is $825 billion for Obama’s stimulus, and $700 billion for Bush’s bailout.
That’s $1.5+ trillion dollars in unfunded government spending in less than three months.
Then they’re going to raise taxes by repealing Bush’s tax cuts.
I’m not feeling the “tax cuts for 95% of the people” vibe coming from Obama any more.
P.S. I can’t locate exactly where I read this but it made sense, and if I find it, I’ll give it proper credit..but if uncontrolled government spending was the solution to recession, there would never BE any recessions.