Here’s how much debt the American family would be in if they spent like Washington
Researchers at the Heritage Foundation determined that the average American family would be $260,000 in debt and routinely spending in excess of their annual income if they were as fiscally irresponsible as lawmakers in Washington.
If a typical American family ran their household how the federal government spends taxpayer dollars, they would spend their entire yearly income without saving a cent and then put $7,000 on their credit card.
On top of that, this family would be $260,000 in debt. Mind you, this is simply debt, not a mortgage or business investment. Neither would this family have a plan to pay off its debt.
Put in that light, it’s obvious that federal spending and borrowing habits are irresponsible and unsustainable.
It’s time for lawmakers to prioritize spending and to allow Congress a chance to review and cut back non-discretionary programs like entitlement spending. Click here to help Tea Party Patriots urge lawmakers to implement commonsense spending, including passing legislation that would require the budget is balanced within five years!