The Corner

Deficit Alert

According to the Treasury monthly report, in February the federal government recorded a deficit of $220.9 billion. It is the highest in history (it isn’t in real terms) and the first time ever it has climbed above $200 billion.

For the entire fiscal year, CBO projects the government will run a deficit of $1.36 trillion, just below the $1.41 trillion deficit incurred last year. However, if the president’s policies are enacted, the deficit will be $1.5 trillion.

If that’s the new era of responsibility that the president is talking about, I would like my money back.

Veronique de Rugy is a senior research fellow at the Mercatus Center at George Mason University.

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