Revolution

It's the Spending

From the Libertarian Party of Pennsylvania's 1993 "It's the Spending" campaign:

The federal spending budget for FY 1993 is $1.515 trillion; which means the federal government spends more than four billion dollars every day ($4,151,000,000). [That's $172,958,300 per hour, $2,882,638 per minute, $48,044 per second!]

...

Between 1981 and 1991, federal spending rose from $2,414 to $4,282 per person -- an increase of $1,868 [Source: U.S. Census Bureau].

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In 1991, the Fortune 500 Largest U.S. Industrial Corporations worked an entire year to earn profits of $55.138 billion on more than $2.2 trillion in sales - a 2.4% profit margin. [Source: Fortune, April 20, 1992]

At the federal government's 1993 rate of spending ($4.151 billion a day), all of the profits from the Fortune 500 companies in 1991 would last less than two weeks (13.28 days).

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Forbes magazine considers Ross Perot one of America's 400 wealthiest people, at $2.4 billion. [Source: Forbes, October 19, 1992]

If the IRS could have instantly converted every penny of Ross Perot's wealth to cash when we got out of bed this morning, the federal government would spend it all before most of us go to bed this evening.

Even the $6.3 billion that Forbes estimates Bill Gates of Microsoft is worth would last the federal government only one and one-half days.

...

"Since 1929, federal expenditures (have grown) seven times as fast (as the gross domestic product). In 1929 private investment was five times larger than the federal budget; in 1991 it was about half as large. Total expenditures (by all governments) in 1929 were 12 percent of GDP; in 1991, 45 percent." [Source: George Will, Monday, March 1, 1993]