Record Deficits in February

The U.S. federal government recorded its worst monthly deficit in history in February, according to a preliminary report from the Congressional Budget Office (CBO) that said the deficit in fiscal year 2012 is already more than half a trillion dollars.

The CBO’s figures show the government has borrowed 42 cents of every dollar it spent during the first five months of this fiscal year. The nonpartisan agency projected the government will run a deficit of $229 billion in February, the highest monthly figure ever. The previous high was $223 billion a year ago, in February 2011.

Even with record setting deficits, Senate majority leader Harry Reid (D-NV) has said he doubts his chamber will write a budget this year.

With numbers like these there is little surprise that a Rasmussen Reports survey released this past week shows that only 32% of likely U.S. voters say the country is heading in the right direction.