Congratulations. It’s a new record! We’ve really outdone ourselves this time. The February, 2011 budget deficit is a brand new record of $223 Billion. For one month! Remember the good old days when $200 billion was a bad deficit for an entire year?
Now there is talk that the government could shut down if the Democrats and Republicans can’t agree on a budget. Is that a threat or a promise? The Republicans want to cut $61 Billion out of this years budget. The CATO Institute puts that into perspective:
President Obama proposed a spending freeze during his State of the Union Speech and the Democrats in Congress say that $61 Billion in cuts is too deep. As you can see even $61 Billion doesn’t even begin to address the real trouble we are in. It’s sad to say, but I don’t see the political courage and cooperation necessary to solve this enormous problem that is growing at a record rate.