{"id":3860,"date":"2011-03-07T16:24:04","date_gmt":"2011-03-07T21:24:04","guid":{"rendered":"http:\/\/www.jasetaro.com\/blog\/?p=3860"},"modified":"2011-03-08T09:28:07","modified_gmt":"2011-03-08T14:28:07","slug":"ouch-federal-government-posts-largest-monthly-deficit-ever","status":"publish","type":"post","link":"https:\/\/www.jasetaro.com\/blog\/2011\/03\/07\/ouch-federal-government-posts-largest-monthly-deficit-ever\/","title":{"rendered":"Ouch: Federal Government Posts Largest Monthly Deficit Ever"},"content":{"rendered":"<p>Wow, when it comes to deficit spending Barack Obama makes George W. Bush look like a piker&#8230; From <a href=\"http:\/\/www.washingtontimes.com\/news\/2011\/mar\/7\/government-posts-biggest-monthly-deficit-ever\/?utm_source=RSS_Feed&amp;utm_medium=RSS\" target=\"_blank\">The Washington Times<\/a>:<\/p>\n<blockquote><p>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.<\/p>\n<p>That figure tops last February\u2019s record of $220.9 billion, and marks  the 29th straight month the government has run in the red \u2014 a modern  record. The last time the federal government posted even a monthly  surplus was September 2008, just before the financial collapse.<\/p><\/blockquote>\n<p>Ouch&#8230; Just how prolific a spender is Pres. Obama? Well, the February budget deficit was larger than Bush&#8217;s entire <a href=\"http:\/\/blogs.wsj.com\/economics\/2007\/10\/05\/deficit-for-fiscal-2007-slides\/\" target=\"_blank\">2007 deficit<\/a>.<\/p>\n<p>I think Ed Morrissey is right&#8230; I must be getting old, because I too can <a href=\"http:\/\/hotair.com\/archives\/2011\/03\/07\/great-news-america-sets-new-record-for-monthly-deficit-spending\/\" target=\"_blank\">remember the good old days<\/a> when a $223 billion deficit would send &#8220;Democrats screaming to cable news shows about the profligacy of George W. Bush and his ruinous economic policies.&#8221; But now days nary a whimper.<\/p>\n<p>The real question now is whether this will cause both sides to get serious about making meaningful spending cuts. Frankly, I&#8217;m not hopeful.<\/p>\n<p><strong>Related<\/strong><\/p>\n<ul>\n<li><a href=\"http:\/\/www.cnsnews.com\/news\/article\/us-treasury-drew-down-its-cash-balance-8\" target=\"_blank\">U.S. Treasury Drew Down Its Cash Balance by $81.6 Billion in Just First 4 Days of March<\/a> &#8211; CNSNews.com<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Wow, when it comes to deficit spending Barack Obama makes George W. Bush look like a piker&#8230; From The Washington Times: 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\u2019s record of $220.9 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[26,7],"tags":[57,813,123],"class_list":{"0":"post-3860","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy","7":"category-politics","8":"tag-barack-obama","9":"tag-budget-deficit","10":"tag-george-w-bush","11":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-10g","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2097,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/04\/30\/barack-obama-on-the-deficit-i-didnt-do-it\/","url_meta":{"origin":3860,"position":0},"title":"Barack Obama On The Deficit: I Didn&#8217;t Do It&#8230;","author":"Jeff","date":"April 30, 2009","format":false,"excerpt":"Barack Obama's 'It wasn't me' protestations about the ballooning federal deficit are so patently false even the Associated Press is calling him on it: WASHINGTON (AP) - \"That wasn't me,\" President Barack Obama said on his 100th day in office, disclaiming responsibility for the huge budget deficit waiting for him\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2648,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/08\/25\/train-wreck-gdp-decline-twice-as-bad-as-obama-admnistration-forecast\/","url_meta":{"origin":3860,"position":1},"title":"Train Wreck: GDP Decline Twice as Bad as Obama Admnistration Forecast","author":"Jeff","date":"August 25, 2009","format":false,"excerpt":"Ouch, this isn't good news for President Obama's agenda... The White House has been using some pretty rosy economic forecasts to sell his agenda. However, those rosy forecasts have finally crashed head-on into economic reality. In short, GDP declined roughly twice as much as they predicted and their out year\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1525,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/02\/15\/federal-obligations-exceed-world-gdp\/","url_meta":{"origin":3860,"position":2},"title":"Federal Obligations Exceed World GDP???","author":"Jeff","date":"February 15, 2009","format":false,"excerpt":"I tend to be skeptical of articles like this one from World Net Daily: Federal obligations exceed world GDP Does $65.5 trillion terrify anyone yet? By Jerome R. Corsi, February 13, 2009, WorldNetDaily As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2196,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/05\/15\/barack-obama-us-long-term-debt-load-unsustainable\/","url_meta":{"origin":3860,"position":3},"title":"Barack Obama: U.S. Long-Term Debt Load &#8216;Unsustainable&#8217;","author":"Jeff","date":"May 15, 2009","format":false,"excerpt":"From Bloomberg News: May 14 (Bloomberg) -- President Barack Obama, calling current deficit spending \u201cunsustainable,\u201d warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries. \u201cWe can\u2019t keep on just borrowing from China,\u201d Obama said at a town-hall meeting in Rio\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2565,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/08\/03\/tax-revenues-continue-to-plunge\/","url_meta":{"origin":3860,"position":4},"title":"Tax Revenues Continue to Plunge","author":"Jeff","date":"August 3, 2009","format":false,"excerpt":"From the Associated Press: The recession is starving the government of tax revenue, just as the president and Congress are piling a major expansion of health care and other programs on the nation's plate and struggling to find money to pay the tab. The numbers could hardly be more stark:\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2304,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/06\/04\/bernankes-deficit-warning\/","url_meta":{"origin":3860,"position":5},"title":"Bernanke&#8217;s Deficit Warning","author":"Jeff","date":"June 4, 2009","format":false,"excerpt":"There's been a fair bit of buzz about Federal Reserve Chairman Ben Bernanke's remarks about the need for deficit reduction during his testimony before Congress yesterday. Many commentators are interpreting Chairman Bernanke's as bad news for Obamanomics and are arguing that deficit fears will force him to scale back his\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/3860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=3860"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/3860\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=3860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=3860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=3860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}