In February, government spending exceeded revenue by a record $223 billion for one month
The US Senate this week will be haggling over whether to cut spending for Fiscal Year 2010-2011 by $6 or $9 billion
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And here I thought you were giving us an follow-up to your Connecticut.
T
BTW, the deficit in February 2011 exceeded the deficit for the entire 2007 year.
Mind-Boggling!
In the sense of fairness, it should be pointed out that February is always a large deficit – it’s the month people who expect a tax refund file their income tax returns so the outflow massively exceeds the revenue.
I wonder if Congress considers income tax refunds to be an “Expenditure” of tax revenue that has to be paid for with more taxes…. hmmm