Deficit this month more than all of 2007
March 7, 2011 - 2:06 pm
Glenn pointed this out. Here’s the basic story:
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.
He compares it to this story from 2007:
The Congressional Budget Office estimated Friday that the U.S. federal budget deficit for fiscal year 2007, which ended Sunday, was about $161 billion, or 1.2% of gross domestic product. That’s down from the $248 billion shortfall recorded in fiscal 2006, which translated into 1.9% of GDP. The Treasury Department will report the official tally later this month.
… and says: “This is what you voted for when you voted for change.”
Which is all fine, except, I’m sorry, but when we’re talking about $223 billion, that’s not change, that’s serious money.