Per capita income in the United States now stands at approximately $33,070. It’s higher in most urban areas. In the Dallas-Fort Worth metro area, for example, the most recent figure from the Census Bureau, for 2009, was $39,514.
A couple earning two or even three times that amount—that is, about $79,000 per year, or even $118,000 a year—knows what they can afford to buy. They also know what they can’t afford to buy. And most people budget accordingly.
But this same couple has no idea what a trillion dollars will buy—let alone $3.5 trillion, the amount the federal government will spend in the 2011 fiscal year. There is no way for anybody—from the typical wage-earner in the DFW area to the chairmen of the House and Senate budget committees—to really comprehend such numbers.
There’s also another important reason for government’s out-of-control spending.
Read more here from the Fort Worth Star-Telegram.