February Deficit Bigger Than Entire 2007 Deficit
Let’s do the compare and contrast thing again, shall we?
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.
Remember that $223 billion figure.
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.
$223 billion is definitely bigger than $161 billion.
We need to get Fedzilla’s appetite under control, or this country is gonna collapse around our ears. There’s just no two ways about it.