(CNSNews.com) – Inflation-adjusted per capita federal spending went up $822.90 from fiscal 2008 to fiscal 2012, according to official data from the U.S. Treasury and the Census Bureau.
Real federal spending also increased $2437.64 per household between 2008 and 2012.
In constant 2012 dollars, the federal government spent $3,176,376,470,000 in 2008 and $3,538,446,000,000 in 2012, according to the U.S. Treasury. (The 2008 spending number was adjusted to 2012 dollars using the Bureau of Labor Statistics inflation calculator.)
On April 1, 2008 (the midpoint in the federal fiscal year which ends on Sept. 30), there were 303,381,938 people in the United States, according to the U.S. Census Bureau, and on April 1, 2012 there were 313,336,712.
The $3,176,376,470,000 that the federal government spent in fiscal 2008 equaled $10,469.89 for each of the 303,381,938 people who lived in the United States that year. The $3,538,446,000,000 the federal government spent in fiscal 2012 equaled $11,292.79 for each of the 313,336,712 people who lived in the United States that year.
Read More at CNS News . By Terence P. Jeffrey.
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