When you combine the public debt — the amount we owe China and other nations — with our intragovernmental debt — what we owe Social Security — the interest alone is $383 billion.
That’s more than what we spend on energy, agriculture, homeland security, education and almost every other government agency combined.
So how can you judge if Washington’s next purchase is worth it?
This week, Fox News introduces the Taxpayer Calculator. It allows us to break down programs into amounts we can understand. In Wednesday’s installment, we take a look at the individual cost of $890 million in earmarks for just two senators. Type in your salaray, and the calculator will estimate what the average taxpayer in your income category is paying toward those earmarks.
CLICK HERE FOR THE FOX NEWS TAXPAYER CALCULATOR
In addition to the Taxpayer Calculator, you can also vote. Results will tell us if the public agreed with each expenditure of their money
These numbers are based on tax returns – whether you file single or married.
All this week we will be putting a price tag on government programs – from earmarks to subsidies. Why? Because it is all your money.