GOP breaks own federal spending record. Again.
Government spending hit an all-time high for a single month in March, pushing the budget deficit up significantly from the red-ink level of a year ago.
In its monthly accounting of the government's books, the Treasury Department reported Wednesday that federal spending totaled $250 billion last month, up 13.7 percent from March 2005.
Government receipts also were up, rising 10.6 percent from a year ago, to $164.6 billion. That left a deficit for the month of $85.5 billion, a record imbalance for March.
Treasury Department officials said that half of the growth in outlays for March represented a $15 billion shift in payments for certain government benefit programs, including Medicare, into March rather than April. The benefit payments were made early because April 1 fell on a Saturday.
The March outlay record of $250 billion surpassed the old mark of $232 billion set in February.
Even though the deficit was a record for March, it was below the all-time monthly high of $119.2 billion, which was set in February.
Keep in mind that the president has yet to veto a single spending bill-- or any bill for that matter-- even though he insists that the multi-trillion dollar tax cuts are making our economy stronger than ever.Just to drive the point home, one last sentence from the article:
Spending during this six-month period totals $1.34 trillion, up 8.7 percent from the same period in 2005.
The two-front war and upper-class taxcuts were in effect last year, too. Any right-wingers out there care to explain why the GOP is spending even more this year?
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