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.I mean that's big bucks. The deficit for the year was $161 BILLION! That's not chump change.
But, that was then and this is now.
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.This single month is the largest deficit in the nation's history and it breaks the record for a single month set last year by the Messiah. It should be noted that he has been in office 25 of those 29 consecutive months focusing on recovery and job creation.
What seems to be the problem with the process here?
2 comments:
First he is a socalist democrat and second there are no leaders in the democratic party.Just,spenders possing as leaders.
$161B here, $161B there.
Folks, this could start adding up to real money...
(With apologies to the late Sen. Dirksen, although there does appear to be some question whether he actually spoke the oft-attributed words.)
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