Budget deficit sets record in February (GOOD JOB OBAMA! /sarc)

AP ^ | 3/10/2010 | MARTIN CRUTSINGER

[tobyhill]

The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year's record for the full year.

The Treasury Department said Wednesday that the February deficit totaled $220.9 billion, 14 percent higher than the previous record set in February of last year.

The deficit through the first five months of this budget year totals $651.6 billion, 10.5 percent higher than a year ago.

The Obama administration is projecting that the deficit for the 2010 budget year will hit an all-time high of $1.56 trillion, surpassing last year's $1.4 trillion total. The administration is forecasting that the deficit will remain above $1 trillion in 2011, giving the country thrree straight years of $1 trillion-plus deficits.

[Art in Idaho]

Well said! Sometimes I still can't believe this nation of uninformed, uneducated, brainwashed people elected this communist. It's almost hard to believe. After fighting communism since WWII! Did they not understand Anything about socialism/communism?

[Art in Idaho]

Thanks, (I guess : )) for the info and link from Denninger. So we need an emergency new government? The Bozos in charge are just making it worse. . How can they even be talking of a Healthcare Bill? . . wait until November? Seems like a long way off sometimes. This is an acute emergency, and as you say, if all Entitlements Stopped Tomorrow, we'd still be in trouble! So now What?

[dynachrome]

A good question. I dunno. A slow collapse like Argentina?
(www.ferfal.blogspot.com an Argentinian blogger)

Or fast like the novel “Patriots” ?

http://www.amazon.com/gp/product/156975599X?ie=UTF8&tag=survivalcom-20&linkCode=as2&camp=1789&creative=9325&creativeASIN=156975599X

(www.survivalblog.com JW Rawles)

Scary stuff.

[massmike]

bookmark

[gswilder]

Obama, more deficits in one month than Bush in an ENTIRE year. Unbelievable.

[hattend]

[Tzimisce]

Take a GOOD LOOK at Greece, cause that is where we are headed.

[Arthur Wildfire! March]

One for the ...

Obama-nomics link-list
http://www.freerepublic.com/focus/chat/2464021/posts?page=4

Half of my letters brand me an idiot - President Obama
http://www.freerepublic.com/focus/f-news/2468312/posts

[cake_crumb]

<Channeling Obiemedia> "Pu-RES-ident BaaaahRACK OBAMA creates HISTORIC budget record!!!!!!!!!!!"</Channeling Obiemedia>

[cake_crumb]

Oh, but not to worry! ObamaCare will SAVE money!

[Cheap_Hessian]

The US dollar is going to collapse. The US itself will still very much exist.

[Loud Mime]

If we collapse, they won’t have to pay all those pesky social security entitlements, right?

[avacado]

BUSH & REPUBLICAN BUDGET DEFICITS PER YEAR

2001 - $127 billion (surplus)
2002 - $158 billion (deficit)
2003 - $374 billion (deficit)
2004 - $412 billion (deficit)
2005 - $318 billion (deficit)
2006 - $247 billion (deficit)
2007 - $162 billion (deficit)

Democrats take Congress

2008 - $454 billion (deficit)

Obama and Democrats

2009 - $1.4 trillion (deficit)
2010 - $1.8 trillion (deficit)

[Scotswife]

bookmark.

Thank for that post.
Cutting/pasting and saving as ammo for later.

[Art in Idaho]

Thanks for the links. Good stuff. .

[Gabrial]

“Take a GOOD LOOK at Greece, cause that is where we are headed.”

You speak the truth. More than 50% of all union employees now work for the government. When benefits have to be cut, the thugs take to streets of the cities and destroy cars and buildings. Philly, South Chicago, and Detroit will be the first to burn.

[Gabrial]

BUSH & REPUBLICAN BUDGET DEFICITS PER YEAR

2001 - $127 billion (surplus)
2002 - $158 billion (deficit)
2003 - $374 billion (deficit)
2004 - $412 billion (deficit)
2005 - $318 billion (deficit)
2006 - $247 billion (deficit)
2007 - $162 billion (deficit)

Democrats take Congress

2008 - $454 billion (deficit)

Obama and Democrats

2009 - $1.4 trillion (deficit)
2010 - $1.8 trillion (deficit)

Yep, it's pretty much over.