Govt. sets record deficit in February

[Jagermeister]

http://www.washingtontimes.com/news/...icit-february/

Shocking!

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 CBO’s 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. Bush’s 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 CBO’s 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. House Republicans are working to write their own budget now, while Senate Democratic leader Sen. Harry Reid of Nevada has said he doubts his chamber will write a budget this year.

[ELVIS]

Blame George Bush...

[kwame k]

Yes, blame Dubya.......and beg forgiveness for voting for him not once but twice!

[LoungeMachine]

Spending comes from the House...which is led by a Republican Majority

[Nitro Express]

There is no reality with the financial system anymore. When you just can create dollars on a computer with nothing backing them, you can spend a lot. What's amazing is people are so conditioned and brainwashed to believe that money is still worth something the politicians can still trade it and if they still can trade it they still can be bought off by the people who print it. You run big deficits when you have to buy a lot of people off and too many hands are in the cookie jar.

[Nitro Express]

Spending comes from the House...which is led by a Republican Majority

The house appropriates the money. The spending is actually done by the executive branch. Bohner (Bone Head) didn't tie the purse strings and Obama spent like a drunken sailor.

[knuckleboner]

http://www.washingtontimes.com/news/...icit-february/

Mr. Obama last month released a budget that showed the government averaging $1 trillion deficits for the rest of this decade. .

leave it to the washington times. worthless paper. the average deficit is far closer to $600 billion for the decade. not necessarly good, but not $1 trillion, either.

[BigBadBrian]

Spending comes from the House...which is led by a Republican Majority

Except that all 22 attempts (at last count) to control deficit spending since Republicans have controlled the House since The 2010 General Election have been squashed by Harry Reid in The Senate. He's your boy, isn't he?

The 3 highest Fiscal Year deficits come with a Democratic controlled House, with two of those years with a Democratic President (Obama) to boot.

[BigBadBrian]

You don't like the Washington Times since the don't have a leftward bias. Stick to the Post or the NYT. They'll provide all the talking points you need.

[knuckleboner]

dude, bias has nothing to do with it. the washington times is not a well thought-of paper. even by subscribers. it CONSTANTLY loses money, even in years when papers were doing ok the moonies still had to subsidize it.

obviously, there's a conservative media market, hence why fox news does so well. the washington times is just a piss-poor product, as evidenced by the fact that i highlighted a glaring error...

[Nickdfresh]

Except that all 22 attempts (at last count) to control deficit spending since Republicans have controlled the House since The 2010 General Election have been squashed by Harry Reid in The Senate. He's your boy, isn't he?

The 3 highest Fiscal Year deficits come with a Democratic controlled House, with two of those years with a Democratic President (Obama) to boot.

Is this how you rationalize being a Republican't for Bigger Government? Blaming the Democrats? Whatever happened to "personal responsibility?"