This year, Americans have to work until July 15 to pay for the burden of government, more than six months.
In a new report, Americans for Tax Reform (ATR) has calculated that Americans will spend a total of 197 days toiling to pay for the cost of government.
“Cost of Government Day is the date of the calendar year on which the average American worker has earned enough gross income to pay off his or her share of the spending and regulatory burden imposed by government at the federal, state and local levels,” reads the report.
The report, Cost of Government Day, shows that Americans will work 88 days to pay for federal spending; 40 days for state and local spending; and 69 days for total regulatory costs.
“From a different perspective, the cost of government makes up 54.0 percent of annual gross domestic product (GDP),” reads the report. “What’s more, the largest tax hike in the nation’s history is scheduled to take place at the end of 2012 unless Congress acts to protect taxpayers. If this tax increase is allowed to hit, COGD [Cost of Government Day] could permanently be pushed back into August and beyond.”(CNS)
And the liberals want even MORE government and EVEN MORE SPENDING!
Aren’t you excited!!! 🙂
The Republican side of the Senate Budget Committee released the following chart yesterday, detailing the rising projected cost of President Obama’s signature legislation, Obamacare:
The latest estimate, as the chart details, is that Obamacare will cost $2.6 trillion dollars in its first real decade. The bill does not fully go into effect until 2014, therefore the estimate begins with that year.
“President Obama promised a joint session of Congress in 2009 to spend $900 billion over ten years on his health care law: ‘Now, add it all up, and the plan that I’m proposing will cost around $900 billion over 10 years.’ Adding up all the different spending provisions in the health care law, however, (including closing the Medicare ‘donut hole,’ implementation costs, and other spending) total gross spending over the FY 2010–19 period is about $1.4 trillion, based on CBO estimates,” the Senate Budget Committee Republican staff explains. “And most of the major spending provisions in the law do not even take effect until 2014. Congressional Democrats delayed these provisions in order to show only six years of spending under the plan in the original 10-year budget window (from FY2010-19) used by CBO at the time the law was enacted. Therefore, the original estimate concealed the fact that most of the law’s spending only doesn’t even begin until four years into the 10-year window. A Senate Budget Committee analysis (based on CBO estimates and growth rates) finds that that total spending under the law will amount to at least $2.6 trillion over a true 10-year period (from FY2014–23) — not $900 billion, as President Obama originally promised.”
The chart is being released now to coincide with the House vote later today to repeal Obamacare.
As the chart notes, “Estimates of the gross outlays under the President’s health care law in nominal dollars using CBO estimates of major coverage provisions, as well as Senate Budget Committee Republican projections based on CBO estimates of the remaining costs.” (Weekly Standard)
Justice Roberts’s Image-Over-Substance Decision on The Obamacare Tax:
Negative opinions of the Supreme Court jumped in the wake of its ruling on the constitutionality of the 2010 health care law, according to a new Pew Research Center poll released on Thursday that shows the percentage who have an unfavorable opinion of the Court is higher than at any point since Pew began tracking it in 1985.
Democrats have a slightly-improved view of the Court: 64 percent view it favorably, compared to 52 percent in April. But the Court’s standing among Republicans has plummeted, accounting for the overall decline.
So I guess he got what HE wanted, but we got the shaft!
Gee, why am I not surprised…
TELL ME A STORY…
“When I think about what we’ve done well and what we haven’t done well,” the president said, “the mistake of my first term – couple of years – was thinking that this job was just about getting the policy right. And that’s important. But the nature of this office is also to tell a story to the American people that gives them a sense of unity and purpose and optimism, especially during tough times.”
Mr. Obama acknowledged the dissonance between others’ perception of his strength as an expert orator, and his own.
“It’s funny – when I ran, everybody said, well he can give a good speech but can he actually manage the job?” he said. “And in my first two years, I think the notion was, ‘Well, he’s been juggling and managing a lot of stuff, but where’s the story that tells us where he’s going?’ And I think that was a legitimate criticism.”
Pressed by Rose about what he felt he needed to explain better to the American people, the president corrected that he wanted to do more “explaining, but also inspiring.”
“Because hope is still there,” Mrs. Obama added.
Gosh you guys, wouldn’t we all be better off if Obama told us more about the “story” of the presidency? Isn’t that why the unemployment rate is stuck at 8.2%, or why so many have lost their homes and their jobs, because the president hasn’t talked about himself enough? Astoundingly, appallingly arrogant.
I suppose this also means he doesn’t consider the Fast and Furious scandal — nor the deaths of hundreds of Mexicans and two Americans — a mistake. He doesn’t consider the growth of the deficit, and his lack of a real plan to address it, a mistake. He certainly doesn’t consider the irreparable damage he’s done to American political discourse — attempting to shame the Supreme Court into ruling his way, or falsely attributing Gabby Giffords’ tragic shooting to Republican rhetoric — a mistake. Heck, for him, those are all just part of the job, when you’re a serial campaigner and an incapable leader.
As if Americans needed another reason to throw him out of office this November, he’s just given it to us. Unless, of course, you want to have perpetual “inspiration” and no job.
I think I’ve had enough Liberal Fairy Tale Economics to last several life times, Mr President.
I’d take a rich, white robot with a plan over an orator with an over-the-top ego any day. 🙂