Federal government spending per person
Created: 4/14/11 (Thu) | Topic: Issues
Dr. Bob Young, the American Farm Bureau Federation’s chief economist, provides an interesting and useful breakdown of the federal budget, taxes and the deficit in the April issue of AFBF’s Crop Market Update.
According to Young, the federal government spends $11,475 for every man, woman and child in the United States.
“Does it feel like you’re getting $11,745 worth of benefits?” Young asks.
In his column, Young provides a breakdown of tax revenue paid per person and the distribution of taxes. In essence, between 80 percent and 90 percent of the population is paying less in taxes than what the government is spending on their behalf, according to Young.
If you want to get rid of a $1.5 trillion deficit, given roughly 300 million people living in this country, you need to cut government benefits or raise revenues by roughly $5,000 per capita,” Young writes.