Obligatory Post: Obama February deficit biggest EVAH – $223 billion

For reference, George W. Bush’s administration deficits never got close to $500 billion for the entire year. The Office of Management and Budget (White House) is estimating the 2011 deficit will be $1.65 trillion.

The Bush administration spent way too much money. I’ve been saying that for years. But to think the Obama administration continues to pile on hundreds of billions every month is absolute disaster. We hit $223 billion for Feb. 2011. From the Washington Times.

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.

A $1.65 trillion deficit expected in 2011 … from the Wall Street Journal.

The White House projected Monday that the federal deficit would spike to $1.65 trillion in the current fiscal year, the largest dollar amount ever, adding pressure on Democrats and Republicans to tackle growing levels of debt.

The projected deficit for 2011 is fueled in part by a tax-cut extension that President Barack Obama and Republican lawmakers brokered in December, two senior administration officials said. It would equal 10.9% of gross domestic product, the largest deficit as a share of the economy since World War II.

Yup … in part fueled by the fact you sent a message to Congress you were not willing to pay more in taxes and demanded real spending reductions.

In the meantime, Democrats are suggesting we cut the federal budget by no more than .28 percent. That’s POINT TWO EIGHT percent.

6 replies
  1. Dimsdale
    Dimsdale says:

    Durbin was pathetic on Fox Sunday.

     

    Did you notice that if you flip that chart upside down, you will see what the price of petroleum as it spikes (how is George Bush doing it????).  Good thing Øbama is printing money like we live in Rwanda.

  2. winnie888
    winnie888 says:

    Dims, I hear Rwanda is lovely this time of year.

    Less than 1%?  REALLY?  Are these fools for REAL?  .28% — seriously deep cuts.

    Durbin is a tool for the liberal cause.  And he reminds me of Anthony Weiner the way he "answers" questions.  They all need to go back to school to study basic math…1/6 of the way does not = halfway.  And I'm pretty sure Republicans aren't requesting $61 billion in cuts from education alone.  Durbin's runnin' the okey doke on us.

     

  3. WagTheDog
    WagTheDog says:

    Hummmmm…

     

    How many jobs have actually been created or saved?

    How much has education been improved?

    Do you feel safer now than 3 years ago?

    How often have you been groped by TSA?

    How did you spend your $7/wk rebate?

  4. Dimsdale
    Dimsdale says:

    The only thing that has grown in the Øbama economy is the deficit – at the cost of everything else.

     

    Better get to work on my "Hooked on Mandarin" lessons….

  5. NH-Jim
    NH-Jim says:

    Oh, and allow me to produce my own graph:

    My income over the past few years:

    $_______

    $           _____________

    $                               _____________________

    $                                                              _______________________

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