Obama Administration Ran Up Largest Monthly Budget Deficit in February in History
More “Hope and Change” … Thank you Mr. President. Your policies are not the solutions to our economic problems, they are our problems.
For February, 2010 Barack Obama’s government ran up the largest monthly budget defict in history. THAT IS CORRECT, IN HISTORY!!!
The Treasury Department stated that the February deficit totaled $220.9 billion, 14% higher than the previous record set in February of last year. For the year in the first five months of this budget totals deficits are $651.6 billion or 10.5% higher than a year ago. Obama has the audacity to say that this spending was necessary to hold unemployment at 8%, yet we find it presently at 9.7%.
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.
The administration says the huge deficits are necessary to get the country out of the deepest recession since the 1930s. But Republicans have attacked the stimulus spending as wasteful and a failure at the primary objective of lowering unemployment.
The administration defends the economic stimulus bill that Congress passed in February 2009 with a pricetag at the time of $787 billion as the right medicine to get the economy back on its feet. President Barack Obama has said even more is needed to battle an unemployment rate that remained stuck in February at 9.7 percent.
Our children, grandchildren and future generations who you have stuck with this debt thank you for this change Barack.
This White House keeps talking about focusing on jobs and yet they still are stuck on stupid and health care reform that no one wants or cares about.What is this President’s answer to failed job spending bills? More spending bills. Good grief!
- 34% Say U.S. Unemployment Rate Will Be Higher A Year From Now
- 25% Say U.S. Heading In Right Direction, 71% say Wrong Direction
Is it any wonder Obama has a Daily Presidential Tracking poll rating of -21.
2010 and 2012 cannot come fast enough.