What's a Billion Dollars to You?

What’s a billion dollars? Well, for most of us it’s a whole bunch of money. For others, like congressmen and senators, it’s a scrap that they treat like the loose change rattling around in my sofa. They talk about a billion for this program, ten billion for that, as if they are doling out quarters to the kids for the gumball machine.

Well, here’s another way to think of a billion dollars – it’s the equivalent of about $3.50 for every man, woman and child in the United States. Or fourteen dollars for a family of four (you can do the math – a billion divided by 280 million people). All of a sudden, a billion here, ten billion there means $14 here, $140 there for good old mom and dad. Pretty soon, you’re talking about real money. Our money.

So that means that the typical family of four will pay $5,586 this year to support our military. The House version of the proposed highway spending bill will cost about $875 annually. And we’ll pay $805 for the U.S. Department of Education.

Now that last one’s a real kicker when put into perspective. With a combined population of 78,000, West Chester and Liberty townships will send about $16 million to Washington to fund the Department of Education, but will only get back a little more than $1 million for Lakota Schools. We could have foregone the entire levy mess had we simply kept that money at home. But heaven forbid anyone suggest cutting out the Department of Education.

But if you really want a shock, look at healthcare. This year we’ll spend almost $1.7 trillion – that’s trillion with a ‘t’ – as a nation on everything from aspirin to Zoloft. That works out to a little more than $6,000 per person each year. And you wonder why health insurance costs are going up?

We’ve got a drug for everything. High cholesterol? There’s Lipitor. Heartburn? How about some Nexium? Heck, we’ll spend nearly a billion and a half dollars, or about five dollars per person, just on Viagra this year. Combined, these three drugs will cost the average American about forty dollars, or $160 per family, this year alone. And not one of them existed ten years ago.

Now I can already hear some of you saying, "But I don’t take Viagra." It doesn’t matter. We all pay one way or another through higher insurance premiums.

And the same holds true for government expenditures. We may like to think that corporations and the wealthy pay a heftier portion of taxes than we do, but trust me, we all pay. When corporate taxes or gasoline taxes or user fees go up, those costs are passed on to us in the form of higher prices, lower wages or lost jobs.

When the wealthy get taxed we lose out on their investment in the economy, which leaves us all poorer, despite what some would have us believe.

So what can we do? Well, healthcare deserves more space than I can give it here. But when it comes to government spending we must educate ourselves about how our money is being used and how much it costs us personally. And then never let Washington forget that it is our money they are spending, a billion dollars at a time.