efaardvark
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As one FY rolls over into the next I'll just note that (assuming you're a US taxpayer) this last year our federal taxes went up by 6%. Last year's spending was $299B more than last year, which works out to about 6% compared to last year's spending. However they try to spin it, that's how much they've already spent, so that's how much will have to be repaid, somehow, someday via our taxes.Of course just like not paying off your credit card bill every month, the difference between what was spent and what we paid in taxes will have to be carried over to future years and finance charges will apply. The financing of the deficit will of course have to be added to the above amount so the overall tax increase will no doubt be higher once all is said and done. Probably much higher.
