When we see a figure of $13.5 trillion for our country’s total national debt, our eyes have a way of glazing over. The human brain simply cannot absorb or comprehend a figure as humongous as $13,502,281,890,472 (as of 5:10pm, west coast time, Sept. 24, 2010).
By next year, 2012, total US debt will exceed our GDP — America’s total economic output. In 10 years, the federal debt will be even more incomprehensible: $23,089,009,030,226!
Thanks to beloved fellow DCG, there’s a website, MyGovCost.org, that helps us translate those astronomical figures into something we can better understand. It enables us to calculate just how much our government’s runaway spending and resultant liability (debt) will cost each of us in future taxes. It’s your personal Government Cost Calculator.
By simply providing your education, age, and income, you’ll find out the depressing truth about:
- Your average future monthly taxes,
- Your lifetime federal taxes, and
- Your lifetime alternate return (what your taxes could have earned if you invested the money instead of fork it over to the robber government).
Of course, this pertains only to the 53% of us who actually pay income taxes! How are you liking that Hope and Change?
To calculate your tax liability, CLICK HERE.
H/t beloved fellow Microserf for the above video!