Another Record Month of Red Ink: Government Racked Up Record Monthly Deficit Of $220 Billion in February

Well, I agree with Cristina Romer, though I realize the deficit is stunning and I do get a lump in my throat when I look at the numbers.
To balance out the bad news, and Obamacrat for Palin’s post a bit, there’s some better news at Bloomberg– see “Obama defies pessimists as rising economy converges with stocks: : “he political consensus may be that President Barack Obama’s handling of the economy has been weak. The judgment of money in all its forms has been overwhelmingly positive, and that may be the more lasting appraisal.
One year after U.S stocks hit their post-financial-crisis low on March 9, 2009, the benchmark Standard & Poor’s 500 Index has risen more than 68 percent, and it’s up more than 41 percent since Obama took office. Credit spreads have narrowed. Commodity prices have surged. Housing prices have stabilized.”
Its worth reading the whole thing as several economists and experts weigh in.

“Foregoing additional emergency spending”
So when is this emergency over. Depending on what story the Administration would like to paint, we’re still in near Depression territory, the stock market posted historical one year gains, it was super Q4 GDP growth, it’s a dire emergency that needs more spending.
Your emergency spending hasn’t created jobs. It’s “saved” jobs that weren’t in danger and made sure States and public employee unions could put off the medicine they’ll need to eventually take. Jobs, not so much. And no, not every economist from left and right agree, Mr. President. That would be a fib to say ALL economists from ALL spectrums agree this monstrosity has created jobs.
In other emergency news, health care is such a dire emergency that the new bill calls for collecting new tax revenues now, but not spending on benefits for another four years. Interesting emergency there fellas. We’ll send the fire strucks, but the hoses won’t be there for a few hours.

Your emergency spending hasn’t created jobs.
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ARRA funds are being spent;
1) to provide tax relief,
2) to shore up local and state budgets,
3) to supplement unemployment insurance and COBRA payments to assist hard-working AMericans who lost their jobs under the Bush economic collapse,
4) to set in motion infrastructure improvements and increase employment,
5) to spur an energy economy and increase employment.

tierra, quit spouting your uneducated drivel. The collapse can be traced directly to the action of dems. And the dem controlled congress hasn’t slowed their spending since 2006. But yet, the news of record deficits and national debt doesn’t deter someone who doesn’t have the sack to claim responsibility.

Once again, the recklessness of this president and his party are on full display.
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Nonsense. What is on display are the results of the almost complete free-fall collapse of the economy under the Bush Republican administrations – and the resultant impact on employment, tax revenues and deficits.
The Republican administration doubled the national debt and then presided over the collapse of the economy, the collapse of major banks and financial institutions, the collapse of major auto companies, foreclosures and bankruptcies through the roof – and over 700,000 people losing the jobs every month!
And you expect the Democrats to fix this like magic with the wave of a wand?
Republicans who think this way are idiots.

The debt has reached the level that ever paying it back becomes inconceivable. The only choice is devaluation of the dollar and inflation.
The tidal wave of debt that is about to wash over our economy will carry all with it. No one will escape the consequences, not one…
Interesting times are at hand…

“The sensible way to address the deficit is with a long-run plan,” Romer said at an economists’ conference in Arlington, just outside of Washington, DC. “It would be penny-wise but pound-foolish to deal with our long-run problem by tightening fiscal policy immediately or foregoing additional emergency spending to reduce unemployment.”
Ms Romer is living in a dream world!
“Emergency Spending” as she calls it
has Not Reduced Unemployment in this
country!
In fact the so-called stimulus bill
has created No Jobs and that was
an 880 billion dollar expenditure.
The only thing this administration has
done is extend unemployment benefits
which helps people cope with their
expenses but Does Not get them back to
work!
It’s like giving a drug addict
morphene to ease his or her pain.
It helps them cope with the addiction
but doesn’t get them off the drug.
It seems that everyone but the
President and his party knows that
cutting business taxes and capital
gains taxes help businesses keep
more of their profits and allows them to expand, grow, and hire new
employees!
The political tsunami is coming in
November and the clueless Democrats
will be running around claiming
“low voter turnout” and a
misinformed public are the reasons why!

And yet the Dems and Obama continue to spend. It’s immoral and shameful.
Wrecking our future and the next generation’s future.
Obama, Pelosi, Reid have nothing to worry about.
Them and their families kids are set for life.

I take a broader view of hegemony (which of course many here.. reject the notion of such).. the paper is a barometer (the intrinsic value will always revert to zero).. the real power is in miliatry defense and information technology.. where there are primarily two players.. one which invented the concept.. and a large dragon which is copying and improving upon it.