The booklet explains the national debt as follows: As of July 31, 2007,
the national debt, the sum total of all of our annual deficits, was $8.9
trillion. With a population of 302.6 million people, that works out to
$29,500 for every man, woman and child in the United States.
That calculates as follows: Debt owed to the Public: $5.0 trillion and
debt owed to Government trust funds $3.9 trillion. We owe $320 billion
to Medicare, $1.9 trillion to Social Security and $857 billion for the
retirement of Federal employees.
The Majority plans to borrow $454 billion next year to finance the
Government. Of this, $202 billion will be financed by borrowing 100% of
the Social Security Trust Fund surplus. In fact, over the next five
years, the Federal Government will borrow $1.2 billion from the surplus
in the Social Security Trust Fund. Of course, the booklet points out,
when that money is needed to pay benefits, the Government either will be
required to borrow more money or to raise taxes.
These figures might prove useful. The Tax Foundation reports that
Americans will spend every dime of their first 70 days working for the
Federal Government and an additional 41 days working for state and local
governments. That means it would be May 1st before an employer could
work for himself to spend 62 days for housing, 30 days for food and 13
days for clothing. Those figures merely are an average. In some states
the figure is much higher.
In 2001 the Internal Revenue Code contained 1,685,000 words, 380 times
that of the United States Constitution. Internal Revenue Service
regulations contained 6,752,000 words, about 8 1/2 times the words in
the King James Bible.
The Blunt booklet contains interesting information about eternal Federal
programs, Federal regulations which stifle free enterprise, the looming
entitlement crisis and much, much more. It is useful for every head of
household, indeed every voter, to have around. In this era of remarkable
technology, it will be possible to download in your browser the booklet
by typing the web address mentioned above.
But I warn you, once you read and digest all of the data in the "Little
Book of Big Government," you won't be able to put it down and moreover
you will become part of the tax revolt in this country. You will demand
that Congressmen and Senators cut back on government spending and your
friends won't want to see you coming as you demand that they understand
the looming entitlement crisis. What are friends for if not to bother
them on issues!
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