Was it Bob Hope who said that he had to work because he had a government to support? If he were still around, he’d be working longer: [Hat tip Freedom's Phoenix!]
Washington (CNSNews.com) – Americans had to work from January 1 until August 12 this year just to cover the cost of government. That is 26 days more than they had to work last year to cover the cost of government.
“Cost of Government Day” this year fell on Wednesday, August 12, according to Americans for Tax Reform, the conservative group that calculates when the day occurs. Cost of Government Day is the day in the year when the American people have earned enough income to pay the total cost of the spending and regulatory burden imposed by government at the federal, state, and local level.
The August 12 date is 26 days later than Cost of Government Day came last year, when it fell on July 16.
We could have started working for ourselves a little earlier if it hadn’t been for TARP:
[H]ad Congress not passed the Emergency Economic Stabilization Act of 2008 that created TARP, Cost of Government Day would have fallen on July 25. That means that it would have been 18 days earlier.”
Coffee break is over folks. We’d all better get back to work. It’s going to take even longer next year.
© Copyright 2012 Housing Doom | Copyright© 2011, AuthentiCraft, Inc.
Does this mean we can all go home now? The government is hellbent on subsidizing everyone, so why do I actually need personal income anymore?