Mathematically impossible... 16 tril in GDP, 9 tril in local, state and federal spending with 150 million workers.Submitted by firefox on Sun, 09/29/2013 - 03:57
This should wake anyone who is in doubt that we are totally screwed.
Almost 9 trillion in total local, state and federal spending
Almost 16 trillion in total GDP
Somewhere around 150 million working adults
Total government spending including deficit spending accounts for 56% of GDP, and pure deficit spending alone is almost 25% of GDP.
Doing the math, assuming the above numbers, it comes out to about $59,900 in PURE taxes for every working person in America just to pay for the total local, state and federal spending. This is ~5,000 dollars more then America's median income in PURE TAXES.
$59,900 with a 260 day work year (5 days a week). This comes out to around $230 per working day per worker just to pay for the spending, not including paying off the debt principle or personal living expenses and debt.
So my question... how the hell are we going to pay for this with a declining work force and higher liability loads?