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MyGovCost enables us to understand impact of federal spending


Saturday October 2nd, 2010   •   Posted by David Theroux at 1:58am PDT   •  

In a new article in the Washington Examiner, “For a frugal Gal, I have got a lot of debt,” Tina Korbe discusses the merits of the Government Cost Calculator at MyGovCost.org:

“Among my friends, I’m known for my frugality. I budget scrupulously, log every purchase I make in a ledger and often forego even the littlest luxuries. But according to the recently launched Government Cost Calculator on MyGovCost.org, I’m in major debt.

“Thanks to unprecedented federal spending, the current $13.4 trillion national debt will grow to more than $23 trillion by 2020, according to the Congressional Budget Office. As a result, according to the Calculator, I face a lifetime tax burden of $633,835. That figure doesn’t even represent my full debt obligation—just the taxes I will likely pay based on my level of educational attainment, age and current income. A few minutes ago, I was excited to be a 22-year-old, recent college graduate with a reasonable annual salary. I’m not as excited now.

“But, according to its creators at The Independent Institute, including economists Emily Skarbek and Craig D. Eyermann, that’s the whole point of the Government Cost Calculator—to wake us up. . . .”


For the full article, please click here.


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