- The Foundry: Conservative Policy News Blog from The Heritage Foundation - http://blog.heritage.org -
What the Stimulus Will Cost Working Families
Posted By Conn Carroll On January 26, 2009 @ 4:03 pm In Ongoing Priorities | 26 Comments
Shanea Watkins and Patrick Tyrrell of the Center for Data Analysis at The Heritage Foundation put President Barack Obama’s trillion-dollar spending plan [1] into terms we understand [2]:
Many people have trouble picturing such an enormous amount of money. To put it into perspective, $825 billion is worth approximately $10,520 for each family in the United States, or $22,445 for each family with children under the age of 18.
…
Average spending for all family groups in the United States is similar to that of families with children. On average, families annually spend:
- $2,330 on apparel and services,
- $3,595 on health care,
- $4,322 on food at home, and
- $11,657 annually on shelter.
If all families were asked to equally shoulder the burden of the $825 billion “stimulus” package, it would be like asking them to take on an amount of debt equivalent to what they spend on food, clothing, and health care — or most of what they spend on shelter — for an entire year.
Article printed from The Foundry: Conservative Policy News Blog from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2009/01/26/what-the-stimulus-will-cost-working-families/
URLs in this post:
[1] President Barack Obama’s trillion-dollar spending plan: http://readthestimulus.org/
[2] terms we understand: http://www.heritage.org/Research/Economy/wm2242.cfm
Click here to print.
Copyright © 2011 The Heritage Foundation. All rights reserved.