Showing posts with label median family income. Show all posts
Showing posts with label median family income. Show all posts

Wednesday, October 2, 2013

From 1970 to 2010, Federal Spending Grew Nearly 12 Times Faster than Median Income...


When federal spending grows faster than Americans' paychecks, the burden of government on taxpayers becomes greater. 

Over the past four decades, median-income Americans' earnings have risen only +24%, while spending has increased +288%!

PERCENT CHANGE IN INFLATION-ADJUSTED DOLLARS (2012)
Federal Spending Grew Nearly 12 Times Faster than Median Income
Sources: U.S. Census Bureau and Office of Management and Budget.


Wednesday, August 14, 2013

What if Families Handled Finances Like the Federal Government Does?


INFLATION-ADJUSTED DOLLARS (2012)
What if Families Handled Finances Like the Federal Government Does?

Sources: Congressional Budget Office and U.S. Census Bureau.

In
2010, median family income was $51,360. If a typical family followed the federal government's lead, it would spend $73,319 and put 30 cents of every dollar spent on a credit card
This family would have racked up $325,781 in credit card debt—like a mortgage, only without the house. 
What credit card company would continue lending money to this family?