From $Billions & $Trillions to an average taxpayer's $Thousands

'... consider a hypothetical Philadelphia area resident who is 37 years old (the median age in the metropolitan region in 2009), has a college degree, and earns $45,565 annually (the area's average per-capita income that year). According to our calculations, based on current tax rates and a projected life span of 80 years, that person will pay more than $420,000 in taxes to finance federal government spending over the rest of his or her lifetime. If invested over the next 43 years, that money could be worth much more than $1 million.

Of our hypothetical worker's $420,000 in taxes,

—$58,658 will pay interest on the federal debt

—$22,972 for administrative costs and personnel benefits

—$53,146 to finance national defense

—$52,238 for Medicaid

—$32,746 for welfare

—$84,272 for Medicare

—$85,637 for Social Security.' [Grasping budget's billions and trillions - Page 2 - Philly.com]

Nero fiddles as the Capitol ignites in flames

'I'm mystified by Maya's [MacGuineas] reference to an "opening bid" by the White House. What on earth is she talking about? Obama punted in his budget and didn't even endorse the findings of his own Fiscal Commission.' Daniel J. Mitchell