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.
11 March 2010
Federal Deficit Hit Record High In February
ABC News: Another Record Month of Red Ink: Government Racked Up Record Monthly Deficit Of $220 Billion in February