What Will Obama’s Budget Cost You? $25,573.48… EACH!

By Warner Todd Huston —— Bio and Archives February 27, 2009

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Obama is about to unleash a $3.552 TRILLION budget on this poor nation. So, if we each of us were expected to fork over our share of that tab, what would it cost us? Well, according to Toby Harnden, blogger for the Daily Telegraph, it would amount to $25,573.48 each.

I don’t know about you but, I just don’t have it.

So how much will President Barack Obama’s budget cost us? The projected 2010 budget of $3.552 trillion can be found on page 114 of the “New Era of Responsibility” budget here.

The US Census bureau estimates that the current US population is 304,059,724. Dividing the $3.552 trillion by that gives us close to the $11,833 that Drudge came up with. ABC’s Jake Tapper reports that there wil be $989 billion in new taxes over the next decade.

I’m an American taxpayer and the starkest figure is what this could cost me. The latest figure I could find for the number of US taxpayers is 138,893,908 returns in 2007 here. By my reckoning, that’s $25, 573.48 each.