Skip to comments.Govt. sets record deficit in February ($229 Billion is worst monthly deficit in history)
Posted on 03/08/2012 1:57:05 PM PST by SeekAndFind
The federal government recorded its worst monthly deficit in history in February, according to a preliminary report Wednesday from the Congressional Budget Office that said the deficit in fiscal year 2012 is already more than half a trillion dollars.
The CBOs figures show that despite repeated efforts to trim spending, the government has borrowed 42 cents of every dollar it spent during the first five months of this fiscal year.
The nonpartisan agency projected the government will run a deficit of $229 billion in February, the highest monthly figure ever. The previous high was $223 billion a year ago, in February 2011.
It is the 41st straight month the government has run a deficit itself a record streak that dates back to the final months of President George W. Bushs tenure. Before now, the longest streak on record was 11 months.
For all of fiscal year 2012, which began Oct. 1, the budget analysts said the government has raised $869 billion in revenue but spent $1.5 trillion so far.
Congress and President Obama sparred for most of last year on how to cut spending, but the CBOs figures show that spending has actually remained flat in 2012 once the timing of certain payments has been adjusted.
Mr. Obama last month released a budget that showed the government averaging $1 trillion deficits for the rest of this decade.
(Excerpt) Read more at washingtontimes.com ...
What a joke! Boehner is calling the shots and he’z selling us down the river.
I saw that lil weasel on T.V. last evening. Talk about a yellow bellied wussie.
Boehner has been caving in on absolutely everything. And the Tea Party congressmen don’t seem to have a voice, or the MSM is suppressing anything they say.
I was really hoping that Michelle Bachman would be that voice, as she had been earlier. But instead she made a vain run for congress and neglected her job, for which she had just been re-elected.
Maybe they don’t have enough votes to throw Boner into the trash where he belongs. But I’d like to hear just a little from them!
Aargh. Vain run for POTUS.
Damned Bush! /s
Boner and McCornhole are feckless leaders. Just throw them all out.
How anybody can call Boner and McCornhole "leaders" beats the crap out of me.
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