(AP)-WASHINGTON By MARTIN CRUTSINGER — The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year's record for the full year.
The Treasury Department said Wednesday that the February deficit totaled $220.9 billion, 14 percent higher than the previous record set in February of last year.
The deficit through the first five months of this budget year totals $651.6 billion, 10.5 percent higher than a year ago.
The Obama administration is projecting that the deficit for the 2010 budget year will hit an all-time high of $1.56 trillion, surpassing last year's $1.4 trillion total. The administration is forecasting that the deficit will remain above $1 trillion in 2011, giving the country three straight years of $1 trillion-plus deficits.
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Just for reference 1 trillion is a million millions, its 1000 billion...to get a visual click here
(There are only 308 million people in our country.)
(There are about 6.8 billion people in the world)
Again who is going to pay for this?
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2 comments:
It is just scary what is happening in this country.
China
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