Monday, March 07, 2011

February Deficit for the Month Exceeds Entire Annual Deficit in 2007

By Douglas V. Gibbs

The federal government posted its largest monthly deficit in history in February at $223 billion. $223 billion for the month of February. That is a new record.

What is even more astounding is back in 2007, under the Bush administration, at a time when the Democrats were whining and crying about Bush's massive deficit, the Congressional Budget Office indicated that the U.S. federal budget deficit for fiscal year 2007 was about $161 billion.

Understand this, the federal budget deficit for the entire year in 2007 was $161 billion and the federal deficit for the month of February this year was $223 billion. This means that under Obama, and the Congressional Democrats, a monthly deficit is $72 billion more than the entire annual deficit in 2007.

$223 billion deficit in one month!

Absolutely insane.

-- Political Pistachio Conservative News and Commentary

U.S. sets $223B deficit record - Washington Times

Deficit for Fiscal 2007 Slides - Wall Street Journal

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