[Guest post by Aaron Worthing; if you have tips, please send them here.]
Via Glenn Reynolds we learn that last month’s deficit was larger than the deficit was in all 2007. That is right, in one month—the shortest month of the year—we racked up more additional debt than the entire year of 2007.
From the Washington Times, today:
The federal government posted its largest monthly deficit in history in February at $223 billion, according to preliminary numbers the Congressional Budget Office released Monday morning.
From the Wall Street Journal, 2007:
The Congressional Budget Office estimated Friday that the U.S. federal budget deficit for fiscal year 2007, which ended Sunday, was about $161 billion, or 1.2% of gross domestic product. That’s down from the $248 billion shortfall recorded in fiscal 2006, which translated into 1.9% of GDP. The Treasury Department will report the official tally later this month.
And bear in mind, we aren’t talking about the debt, but the deficit. That isn’t how much we owe, but how much we have added to how much we owe.
So clearly Glenn is a racist, right?
Update: It is wrong and baseless to call Glenn a racist. But on the other hand, IMAO long ago exposed the ugly truth about the man.
P.S.: Mr. Reynolds, that uptick in hits on your website right now? We call that a Pattericolanche!
[Posted and authored by Aaron Worthing.]