USAFacts is a new website that keeps track of government spending.
The site first came to life thanks to an idea by Steve Ballmer, the former CEO of Microsoft Corporation (NASDAQ:MSFT). The site is split up into six categories: The Big Picture, Finances, Population, Missions, Reports and an About section.
USAFacts is updated on a daily basis by economists, researchers and professors that helped to piece the site together. They worked together over the last three years to bring the concept to life.
The site went live Tuesday and Ballmer says that the purpose is to “figure out what the government really does with the money,” and it works like a 10-K of the government.
The project costed more than $10 million, according to the New York Times as a group of researchers from Seattle were assembled, as well as a grant to the University of Pennsylvania in order to fund this research.
The nonpartisan site looks at $5.4 trillion in spending under four categories, education, defense and two others.
The opinions contained in this column are solely those of the writer.
Want to share your own views on money and politics? Drop us a line at firstname.lastname@example.org and we might reprint your views in our InvestorPolitics blog! Please include your name, city and state of residence. All letters submitted to this address will be considered for publication.