Voting on Nov. 2nd? Find Out How Much Is Really at Stake

October 25, 2010— In 9 days, you will have the opportunity to walk into a voting booth and make a choice. The health of our economy and financial responsibility of our representatives in Congress are two of the largest concerns being addressed by candidates on both sides of the aisle. The Independent Institute’s latest initiative, MyGovCost.org, demonstrates that regardless of your level of participation in this process on November 2nd, it is important to be educated and informed. Prior to submitting that ballot, you should know—how much is Washington’s spending costing you?

The Government Cost Calculator is a tool developed at MyGovCost.org that enables you, the voter, to receive a personalized report on what Washington’s spending is costing you and how much you’ll be liable for in the growing national debt. MyGovCost Director, Emily Skarbek, encourages voters to utilize the Calculator to become informed about what federal spending programs are really costing. The calculator enables anyone to see how much of their tax dollar go towards funding specific programs so that voters can see what they are forgoing by voting for increased expenditures at the federal level.

For instance, a recent college graduate making $40,000 per year will be expected to pay $734,783 in federal taxes, and even then the federal government deficit and debt will continue to skyrocket. Interestingly, as demonstrated by the Government Cost Calculator, that same individual could have earned $5,042,961 if allowed to privately invest those dollars instead. Those hoping to enter retirement are also being faced with a similarly gloomy financial forecast. At 70 years old, those who are expecting to keep their spending in order during their retirement years face an average of $1, 207 in monthly taxes if current spending trends continue.

So, for those of you hoping to “make your vote count” on November 2nd, don’t go to the ballot box without first arming yourself with the facts. Use the Government Cost Calculator at MyGovCost.org to crunch the numbers with different scenarios depending on your stage in life. Break the spending down by projects. Most importantly, share your results with friends who want to be better informed about excessive federal spending on November 2nd.

To schedule an interview with MyGovCost.org Director, Emily Skarbek, please contact Lindsay Boyd, Director of Communications, at 202.225.7722 or lboyd@independent.org.

For More Information, please visit www.mygovcost.org. Also look for us on Twitter at www.twitter.com/my govcost and Facebook at www.facebook.com/mygovcost!