Here’s a great breakdown of where your tax dollars are spent. Not surprisingly, Social Security, Medicare, and Medicaid top the list. Over 5% of your taxes are for interest payments on the national debt. Military expenditures make another big bucket of spend, higher than social security when each bucket is added up. The sad part is, most people think Foreign Aid is a big expense (it’s not – under 1% of taxes).
If only each family’s share of the National Debt and future obligations were represented here, we’d have the real picture (about $400K/couple all-in).