Monthly deficit hits $220 billion, highest in U.S. history

posted at 7:23 pm on March 10, 2010 by Allahpundit

You ain’t seen nothing yet.

The government racked up a record-high monthly budget deficit of $220.9 billion in February, the Treasury Department announced today.

The latest flood of red ink brings the total deficit for the first five months of the current fiscal year to $651 billion, far exceeding the $589 billion shortfall for the same timeframe in the last fiscal year.

The government ended the 2009 fiscal year with a record $1.4 trillion shortfall. The Obama administration has forecast a $1.56 trillion deficit for this year.

What’s left to say at this point? All I can do is try to contextualize this for you: According to CBO, based on an analysis of the deeply deceitful numbers presented to it by Reid and Obama, the national panacea of health-care reform will save us $132 billion over the next 10 years. Which means the feds blew through our big decade-long ObamaCare refund in about … 17 days last month. (Savings from 2020 to 2029 are estimated to be $1 trillion, but follow the “deeply deceitful” link for insight into that. Even CBO scoffs at trying to predict any numbers that far out.)

Would it make you feel better to read about a Republican yelling at Geithner? Okay, let’s do it!

“It just defies common sense for this administration to pretend that you’re paying any attention at all to deficit reduction,” Rep. John Culberson, R-TX, told Geithner. “It doesn’t square with reality.”…

“If you care about fiscal responsibility, there is no way you could have argued that the response from the government should have been to stand back and let this economy collapse – that would have been far more costly,” Geithner said…

“You’ve spent more money in less time than any administration in history, you have driven the deficits to unprecedented levels, and you’re trying to sell a bill of goods to the country claiming that you’re going to create the mother of all entitlements, insure 30 million more Americans, and we’re going to save you money,” he continued. “Nobody believes that.”

Not true. Supposedly 10 percent of the public believes it, but give them another year or two of reading stories like this. That number will come down to one or two percent before too long.

Normally I like to set up a clip with a brief intro, but not this one. It speaks for itself. Click the image to watch.

o-tax

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Comment pages: 1 2

Been to many TEA party rallies, have you? Or are you merely engaging in rectal speak?

As usual…

JohnGalt23 on May 24, 2013 at 1:46 PM

As I just posted HotairLib has their whole head up their six o clock.

hamradio on May 24, 2013 at 2:43 PM

Who wrote the speech? Or are you just praising the messenger?

mixplix on May 24, 2013 at 2:57 PM

MSNBC consensus: Obama’s speech was historic, amazing, “one of the best of his presidency”

Connect the dots: journolist meeting by invitation only at the White House on, what Tuesday?, “big”speech by Obama on Thursday, lame stream media fawning over speech on Friday. Who would have seen that coming, huh?

parke on May 24, 2013 at 2:58 PM

They need the “war on terror” in order to further erode our Constitutional freedoms and to deflect criticism from the administration’s and Federal government’s ongoing corruption.

They are just trying to massage it so that they don’t offend the Muslims, international Libtards and their own sensibilities anymore than necessary.

A few Muslim terrorists here and there are quite expendable to this Administration despite their sympathies for them. These drone attacks also do much deflect any potential criticism that the Administration is weak in dealing with such matters.

Dr. ZhivBlago on May 24, 2013 at 2:59 PM

MSNBC is nothing but a left wing propaganda machine serving their master, Obama.

rplat on May 24, 2013 at 3:07 PM

Nobel Peace Prize that he totally earned a mere nine months into his presidency? Yeah, that one.

I believe that he was officially nominated 10 days after he was sworn in. Wow! The WON really worked long hours that week and a half to earn that POS medal. During those ten days he ordered NO DRONE STRIKES to keep his peaceful record clean.

fred5678 on May 24, 2013 at 3:22 PM

Obama: Don’t worry about that Ben Ghazi guy. I killed Bin Laden, and Bush didn’t!

And Obummer still wants to close Gitmo? Good luck with that–not even Upchuck Schumer was willing to hold trials in New York!

Steve Z on May 24, 2013 at 3:24 PM

They need the “war on terror” in order to further erode our Constitutional freedoms and to deflect criticism from the administration’s and Federal government’s ongoing corruption.

They just changed the definition of terrorist. They used to be jihadis from the Middle East–now they’re Minutemen in Arizona and Tea Partiers in Ohio.

Steve Z on May 24, 2013 at 3:29 PM

…bromides about what we’re told are President Foreign Policy’s miraculous yet still oddly unmaterialized abilities to move us drastically closer to world peace.

Erika, sometimes your writing shows signs of rivaling even the Master of Snark himself, Allahpundit. Good work!

KS Rex on May 24, 2013 at 3:45 PM

I love how crazy Al invoked the Nobel Peace Prize in praise of a speech that spoke about dropping bombs on people’s head. Maybe it was the “fewer” bombs than before that raised this to historic levels.

Do they even know or care that they are morons.

marnes on May 24, 2013 at 3:46 PM

His speech made less sense than Bluto’s Animal House Speech and was far less entertaining. Nothing less than base rallying time. Never thought I would say this, but Code Pink was the best part.

DDay on May 24, 2013 at 4:01 PM

Sperling posted this at the Examiner on May 23 about this “historic speech of Obysmal’s:

During his foreign policy speech Thursday afternoon, President Obama warned that domestic terrorism would increase in the modern age of the Internet.

“[T]his threat is not new,” Obama said. “But technology and the Internet increase its frequency and lethality.”

Obama warned Americans that materials on the Internet could influence people to commit terrorist acts.

“Today, a person can consume hateful propaganda, commit themselves to a violent agenda and learn how to kill without leaving their home,” he said.

To combat domestic terrorism, Obama reminded Americans that it was important to reach out to Muslim communities.

“The best way to prevent violent extremism is to work with the Muslim American community — which has consistently rejected terrorism — to identify signs of radicalization and partner with law enforcement when an individual is drifting towards violence,” he said. “And these partnerships can only work when we recognize that Muslims are a fundamental part of the American family.”

You see, we are just not working hard enough to “work with the Muslim American community” who are a “fundamental part of the American family.” Watch out, too, because Obysmal is again trying to limit the impact of the Internet.

onlineanalyst on May 24, 2013 at 4:22 PM

That Chris Hayes is a bit of a twink, isn’t he?

onlineanalyst on May 24, 2013 at 4:25 PM

Obama apparently gave two speeches yesterday and I watched the other one.

myiq2xu on May 24, 2013 at 5:03 PM

Didn’t take you that long to inject the man’s race into this didn’t it? And you wonder why blacks will never accept you tea billies hate the man simply because he’s a black man occupying the “people’s” house.

HotAirLib on May 24, 2013 at 1:00 PM

Nah. I’d detest the little pissant s.o.b. if he was white…or Asian…or any one of the myriad of made-up racial divisions.

Solaratov on May 24, 2013 at 11:00 PM

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