Academic

CHANGE: Government Posts Largest Monthly Deficit Ever. How big? Bigger than Bush?s entire defic?

By Glenn Reynolds

CHANGE: Government Posts Largest Monthly Deficit Ever.

How big? Bigger than Bush’s entire deficit for 2007. A lot bigger. This is what you voted for when you voted for change.

UPDATE: Reader Jacob Allen writes: “The 2007 total fiscal year deficit number being bandied about is inaccurate. Thanks Drudge! As your link shows, that was the CBO estimate for 2007. The actual, hard number ended up being $244.2 billion. So February 2011’s #s would fall just short of 2007’s total (and, 2006 and 2008 which were $248.2 billion and $239 billion (estimated) respectively).” Well, that’s so much better, then.

ANOTHER UPDATE: Reader Bob Meadows writes:

I think you gave in too easily to your reader, Jacob Allen, who claimed that the federal budget deficit in FY 2007 was $244.2 billion.

Here is the ?historical data? from the CBO, showing that the deficit in FY 2007 was $160.7 billion?very close to the ?about $161 billion? estimate at the link you provided.

Hmm. I wonder where Allen got his number.

Full post as published by Instapundit.com on March 07, 2011 (boomark / email).