The Show-Me Institute last week launched a video introducing one of the newest features on our website (www.showmeinstitute.org): the Spend-O-Meter. The Spend-o-Meter takes the state’s budget for the current fiscal year (which began in July) and breaks it down so that as the year progresses, the amount that the state “spent” increases by the same amount every second.
Now, does the state really spend $766.53 per second ($24,173,327,268 fiscal year 2013 budget divided by 31,536,000 seconds in a year)? Not exactly. It is not like the state is literally writing a check every second of every day for the entire year for $766.53 and the state does not always spend all the money it is appropriated. However, the Spend-o-Meter does give a good illustration of the scale of the state’s spending. Just think about it, by the time someone finishes reading this post, the state will have, in effect, spent close to $46,000.
Now ask yourself, do you think you are getting your money’s worth? If not, the Show-Me Institute has discussed a couple of ways the state could save money. Check them out and check out the Spend-o-Meter as well.