Sunday, April 18, 2010

Where your Federal Taxes Go

I found an article that gives a break down of your federal taxes. The US governement spent in the 2008 fiscal year $3.0 Trillion, $2.5 trillion was borrowed.   Where exactly did our money go in 2008:  Defense and international Security 21%, Social Security 21%, Medicare, Medicaid and CHIP 20%, Safety Net Programs 11%, payments on interest of the National debt 8%,  and the remaining fraction of the federal tax dollars went to Public Service Projects and Programs.

You can review the article for yourself at this link.

Wow....this is just way to simple.  I think the details were left out intentionally.  Please read this article and take caution to the national debt, and the fact that we are paying out 8% interest on money borrowed by our government.  This means we have leveraged out our own country, kind of like taking the United States to the pawn shop and hoping that we can get it back at our next pay check.

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