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Mortgage & Housing Market News from HSH.com
May 14th, 2009

Federal Spending Soars Above Avg. Income

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That means higher taxes down the road. The chart below (hat tip: Fundmastery) illustrates the difference between Federal spending and the average household income. While Federal spending increased 221% since 1970, the median income increased only 32%:

In case anyone wonders why this is important, just look at the chart again and consider what this will look like in 10 years. If government spending continues growing far faster than household incomes, then government taxes will have to consume an increasing percentage of those incomes. Yikes.

heritage-boc-federal-spending_04-580_small2

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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