Congressional Budget Office Records 40th Straight Deficit Month In March: Also Remember That Obamacare Costs Twice As Much As CBO First Calculated, Its Now $1.76 Trillion!

The federal government ran a $777 billion deficit for the first six months of fiscal year 2012, the Congressional Budget Office estimated on Friday, including a $196 billion hole in March, marking the 40th straight month of deficits.

Wrong About Obamacare Wrong About This Too?

George Carlin On Obama’s Willful Subterfuge: Obamacare Costs Twice As Much As CBO First Calculated, Its Now $1.76 Trillion!

That streak goes back to the financial collapse under Democrat Controlled Congress during President George W. Bush, and means the government has never run a surplus in any month during President Obama’s tenure. The longest previous deficit streak on record was 11 months.

At $777 billion, this year’s deficit is an improvement compared to 2011 at this point, with tax revenues rising $46 billion and spending falling by $7 billion — due in part to the expiration of some stimulus programs in education and Medicaid.

On the revenue side, the CBO said almost two-thirds of the increase stems from higher corporate income tax payments.

The fiscal year began Oct. 1. CBO analysts have projected thegovernment will run a fourth straight year of trillion-dollar deficits.

The CBO, Congress’s non-partisan scorekeeper, does a preliminary estimate each month. The Treasury Department will release official figures next week.

Washington Times

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