Caveat Emptor

Very interesting letter to The Economist from James Hutchin published in the April 14th-20th 2007 volume. Mr. Hutchin asks if it is rational for US taxpayers to support a further investment in the Iraq war, an enterprise "without a business plan, and with no targets and deadlines". How many folks think of their tax payments to the goverment in the same way they think of their other large investments? But why should things not be as he articulates them? Would you spend 15, 20, 30% or more of your gross income on anything else without critical study of what the investment was getting you? Think how carefully you track your home's value, your 401(k) plan's returns, or just your houshold budget for most folks.

Most people seem to send checks to their government - not without complaint often, mind you, but without requesting any direct accountability. The most folks might do is tune in to the public debate on the media-selected "political" issues of the day and consider which side of those force-fed issues they take. Usually the talking heads present two of the many possible views as the two "sides". That way, we barely have to think. To appear knowledgeable and interested in a government's activities to our similarly-behaving friends and family, all we have to do is know and chat about what's on the front page of our newspaper or in the lead stories on the national TV network news program.

Here's an idea. Challenge yourself to track your investment in your government as closely as you track your other large investments. Investigate how much gets spent on what, and how successful the effort is. Focus on the subjects that concern you the most, regardless of what the media has decided is hot. And understand how other governments are dealing with the same issues. For US taxpayers, the OMB publishes these charts, which make for a fascinating start.