Republicans Begin Their Fist Full Month in Congress Setting a Record: Biggest Monthly Debt

The same Republicans who came to Washington promising in 2011 to ensure cuts in federal spending set a record in their first full month in Congress. While the GOP can't be all to blame for this, it still doesn't reflect positive for Republicans. The Washington Times points out:

The federal government posted its largest monthly deficit in history in February at $223 billion, according to preliminary numbers the Congressional Budget Office released Monday morning.

That figure tops last February’s record of $220.9 billion, and marks the 29th straight month the government has run in the red — a modern record. The last time the federal government posted even a monthly surplus was September 2008, just before the financial collapse.

Last month’s federal deficit is nearly four times as large as the spending cuts House Republicans have passed in their spending bill, and is more than 30 times the size of Senate Democrats’ opening bid of $6 billion.

Now consider this as the GOP promised $100 billion in cuts for one year, and only delivered $61 billion. Obviously, their cuts are going to do little if we continue down this road. If we are pushing $200 billion a month deficits, the GOP's meager $61 billion in budget cuts reduce this growing debt by only $5 billion and some change every month. Like I said, HR1 is nothing to celebrate.