Fed Government Posts Largest Monthly Deficit EVER

Katie Pavlich | March 07, 2011 5:14 PM

Wasn't it just two days ago that President Obama was telling us we need a government that lives within its means? I guess he did also say we must "invest"....

According

to the Congressional Budget Office, the federal government will post a $223 billion deficit for the month of February, making it the largest monthly deficit ever posted by the federal government in U.S. history.

The number comes as the debate about cutting federal spending continues to rage on Capitol Hill as democrats call $61 billion in cuts proposed by republicans "draconian," while "meeting the GOP half way" by presenting their mere $1.6 billion in cuts as the threat of a partial government shutdown looms for the second time in less than three weeks.