February Deficit is Larger Than the Entire 2007 Fiscal Year Under Bush
How can you spend $223 billion in the shortest month of the year?
Even if the delusional remarks about the U.S. not being broke were true, how long could that last?
Believe it or not this is copies of the Fiscal Year 2012 Budget being delivered to the Senate Budget Committee hearing room in D.C.
The federal government posted its largest monthly deficit in history in February at $223 billion, according to preliminary numbers the Congressional Budget Office released Monday morning.
That figure tops last February’s record of $220.9 billion, and marks the 29th straight month the government has run in the red — a modern record. The last time the federal government posted even a monthly surplus was September 2008, just before the financial collapse.
Last month’s federal deficit is nearly four times as large as the spending cuts House Republicans have passed in their spending bill, and is more than 30 times the size of Senate Democrats’ opening bid of $6 billion.
