|If you thought that was astonishing?|
By Byron McNutt
FOR THE YEAR 1977, government spending, federal, state and local, averaged $9,607 for each household. That was 47% of the average income of the nation’s 74.5 million households, which was $20,400.
That figure was deemed “astonishing” by industrialist Willard Rockwell, Jr., chairman of the board of Rockwell International. He was also chairman of the board of trustees of the Tax Foundation. What word or description would Rockwell and the Tax Foundation use today to describe the level of government spending? It seems the size of government spending has astonished us for a very long time.The following financial information was taken from a column written
|Tuesday, April 16, 2013 2:27 PM|