According to preliminary numbers from the Congressional Budget Office, the federal government posted its largest monthly deficit in history in February at $223 billion.
Put into perspective, it is the 29th straight month the government has run in the red. A modern record. This one month federal deficit is nearly four times as large as the spending cuts House Republicans have passed in their spending bill, and is more than 30 times the size of Senate Democrats’ opening bid of $6 billion.
And after hundreds of billions, trillions, of dollars of so-called stimulus spending, unemployment continues to worsen. Despite President Obama’s hooting the unemployment rate drop below 9 percent last week, the drop was not a result of more people getting jobs, which is what the community organizer would have you believe. No, the drop was a function of fewer people looking for work, a smaller pool of people looking for jobs that have given up looking for work is what made the unemployment rate drop.
Analysts say an increase in the unemployment rate would indicate that the unemployed, those who have given up looking for work, would share the confidence in the economy that Obama says he has and are actively looking for work again. But that is not whats happening.
- Government posts biggest monthly deficit ever
- Curveball or Snowball?
- Jobless Rate Falls Further
- Unemployment Rate Sharply Drops