Largest monthly budget deficit ever
When you’re in a hole, it’s typically best to stop digging. Unless you’re the US Government:
The federal government posted its largest monthly deficit in history in February at $223 billion, according to preliminary numbers the Congressional Budget Office released Monday morning.
That figure tops last February’s record of $220.9 billion, and marks the 29th straight month the government has run in the red — a modern record. The last time the federal government posted even a monthly surplus was September 2008, just before the financial collapse.
Last month’s federal deficit is nearly four times as large as the spending cuts House Republicans have passed in their spending bill, and is more than 30 times the size of Senate Democrats’ opening bid of $6 billion.
If you’ve paid any attention to the Obama administration over the last two years, they have told us that they have been serious about reigning in federal spending and fiscal discipline. Seriously.