February budget deficit highest ever for any month (extension of Bush tax cuts to blame)

[Cali_Democrat]

Whooda thunk it? Republican tax policies are extremely destructive to the financial well-being of this nation. The extension of the Bush tax cuts is putting tremendous pressure on the Federal budget.

Well knock me over with a feather!

http://finance.yahoo.com/news/February-budget-deficit-apf-1010393433.html?x=0

February budget deficit highest ever for any month
Feb. budget deficit highest ever for any month; annual gap is on pace to set another record


Martin Crutsinger, AP Economics Writer, On Thursday March 10, 2011, 7:40 pm EST

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.

<snip>

February's deficit of $222.5 billion eclipsed last February's record by nearly $2 billion. The full-year deficit would exceed 2009's record deficit of $1.41 trillion. And it would mark the third straight year of $1 trillion-plus deficits.

Read more...http://finance.yahoo.com/news/February-budget-deficit-apf-1010393433.html?x=0

And of course the Republicans are going to point the finger squarely at Obama even though it's their shitty policies that are causing these spiraling deficits. Or should I also say Obama's policies? He went along with this farce :(