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