In 2012, Cost of Government Day falls on July 15. Working people must toil 197 days out of the year just to meet all costs imposed by government. 2012 marks the fourth consecutive year COGD has fallen in July. From a different perspective, the cost of government makes up 54.0 percent of annual gross domestic product (GDP).The most telling event in the latest "fiscal cliff" negotiations was both parties agreeing to end the payroll tax holiday (2%)at a moment in time where the economy was visibly weak. Wow. The government is simply desperate for income.
Note: Last year's date was favorably revised to July 18 from an August initial estimate. The 2012 date represents a three day improvement. Prior to 2008, the date had never fallen past June. The past 4 years have occurred mid-July. MPM
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