Several months back Heritage Foundation officials summarized the federal budget for fiscal year 2010. They stated, on a household basis, our federal expenditures would be approximately $31,406 per household, while our revenues would be $18, 276, resulting in a shortfall of $13,130 per household. That's money we must borrow from others, thereby adding to our national debt now in excess of $13 trillion.
The schedule of expenditures per household was estimated to be:Social Security/Medicare, $9,949; defense, $6,071; anti-poverty, $5,466; unemployment benefits, $1,640; interest on the federal debt, $1,585; veterans benefits, $1,052; federal employees retirement benefits $1,018; education, $914; highways/mass transit, $613; health research/regulation, $550; mortgage credit, $470; all other federal programs, $2,078.
Before going to the voting booth, each of us should question this budget, particularly the shortfall and decide how we personally would manage it. Clearly, this ratio of income to expenditures â€" $18,276 compared with $31,406 â€" is not sustainable.
That being the case, in your view, which of the congressional candidates on the ballot offers the best remedial solution?
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Robert DennHilton Head Island