February budget deficit highest ever for any month

[Omaha Steve]

Source: AP

By MARTIN CRUTSINGER

WASHINGTON (AP) - The government ran the largest-ever budget deficit for a single month in February. The shortfall kept this year's annual deficit on pace to end as the biggest in U.S. history.

The widening deficit reflects the impact of the tax-cut package President Barack Obama and congressional Republicans brokered in December.

As a result, the nonpartisan Congressional Budget Office in January raised its estimate for the annual deficit from $1.1 trillion to $1.5 trillion. It said the tax cuts would add $400 billion to this year's gap. The budget year ends Sept. 30.

The tax-cut package extended income tax cuts, reduced workers' Social Security taxes, extended unemployment benefits and accelerated business tax write-offs, among other steps.


Read more: http://apnews.excite.com/article/20110311/D9LSMUNG1.html

[NoTimeToulouse]

1. So why did the tax cuts for the rich not expire exactly?

The GOP drove the car into the ditch and have set it on fire while the dems are trying to get it back on the road.


Do they expect the dealer just to send them another car from their showroom or what exactly?

[msongs]

2. because the man who could have vetoed them chose to not do so nt

[NoTimeToulouse]

4. Oh yeah. That guy. Infinity chess and all.

[grahamhgreen]

6. The worse part is, all they had to do, was do nothing, and they couldn't even do that!

[PSPS]

3. Just be sure the rich don't pay any taxes. That's what's really important.

[libmom74]

5. The unemployed got 8 extra weeks

of UI benefits the wealthy got 2 years (probably permanent) tax cuts and now it's cuts, cuts and more cuts for the poor, the middle class and while we are at it let's get rid of the unions and workers rights and the same people that were justifying Obama's cave in on the tax breaks are now here to tell everyone that his silence over the attacks on organized labor all over the country really don't mean anything and he really is on labor's side.

[PatrynXX]

7. Misleading....

Unemployed under 99 weeks got 8 extra weeks. Not over 99 weeks.

[libmom74]

8. True the 99er's got nothing.