How Much is $700 Billion?

Published:

    • $4,781.42: each taxpayer’s share of the bailout

    • $9,836.15: the average tax payment for an individual taxpayer, fiscal year 2007

    • $386 billion: projected Medicare payouts, fiscal year 2008

    • $481.4 billion: the federal Defense Department’s discretionary-spending budget, fiscal year 2008

    • $448.4 billion: the discretionary-spending budget for all other federal agencies combined, fiscal year 2008

    • $608 billion: projected Social-Security payouts, fiscal year 2008

    • $726 billion: all approved spending for the wars in Iraq, Afghanistan and “the global war on terror,” 2001-09

Sources: White House Office of Management and the Budget (www.whitehouse.gov/omb)

    IRS (www.irs.gov/taxstats)

    Congressional Budget Office (www.cbo.gov)

Related articles

Recent articles