The U.S. government in February spent $211 billion more than it took in, setting a record budget deficit for a month.
The U.S. Treasury released data Wednesday saying figures from last month indicate the federal government will probably pass the annual deficit record of $1.4 trillion set in the last fiscal year.
U.S. Treasury Secretary Timothy Geithner told a House of Representatives subcommittee the deficit spending is aiding economic recovery efforts but also is ‘unsustainably high.’
The current fiscal year is five months old and the government is showing a budget deficit of $651.6 billion, nearly $53 billion more than the same fiscal 2009 time period.”
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