In 2014, Cost of Government Day falls on July 6.This day marks the point during the year when the average American has earned enough income to pay for his or her share of the spending and regulatory burdens imposed by government at the federal, state and local levels. While Americans may be celebrating Independence Day on July 4, they are still working to pay for the full cost of government until the end of the weekend. This will be the sixth consecutive year that COGD will fall in July; prior to President Obama taking office, COGD had never fallen after June 27.
All told, the full costs of government amount to 51 percent of GDP. Workers toil 121 days to pay for government spending alone, and 65 days to pay for regulatory costs. All told, Americans labor 186 days to pay off the full burden of government. [ATR]
