Posted on 03/10/2010 8:49:11 PM PST by NormsRevenge
WASHINGTON (AP) - The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year's record for the full year.
The Treasury Department said Wednesday that the February deficit totaled $220.9 billion, 14 percent higher than the previous record set in February of last year.
The deficit through the first five months of this budget year totals $651.6 billion, 10.5 percent higher than a year ago.
The Obama administration is projecting that the deficit for the 2010 budget year will hit an all-time high of $1.56 trillion, surpassing last year's $1.4 trillion total. The administration is forecasting that the deficit will remain above $1 trillion in 2011, giving the country thrree straight years of $1 trillion-plus deficits.
(Excerpt) Read more at kfwb.com ...
Can you say Greece?
Our grandchildren and their grandchildren are really going to love us when they find out what we did. I see the sod on our graves staying soggy for a long, long time.
WAHOO!
Do I hear 300billion?
LOL!!! Remember, 'tis better to be p!ssed off than p!ssed on.
Ping
The total deficit of this one years budget - $1.54 trillion - is larger than the ENTIRE Federal Budget of 1993.
The list, ping
Cool...wait until this spring’s grads hit the job market.
I’ll see your $220.9 Billion and raise you another $100 Billion and a big Obammy joke.
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