The $223 Billion February Deficit in Perspective

Yossi Gestetner
The Washington Times reports that the federal deficit for February 2011, was approximately $223 billion. No I didn't write 2.23 billion dollars. It is $223 billion; a record for one month. Here is some context:

  • Dividing the $223 billion in the 28 days of February amounts to $7.9 billion in new debt per day.
  • Republicans are trying to cut spending by $60 billion for the remaining seven months of the current budget year. This is $8.57 billion in cuts per each month. No, not per day. $8.57 per month.
  • The $4 billion in "cuts" that Republicans won last week, is equivalent to the amount debt raised in any given 12-13 hours, (hours that is), of a day in February.
  • If we divide in twelve months the $412 billion deficit of FY 2004 ($34.43 billion per month), the largest deficit year of President Bush and the recent Republican Congress, it is less debt than any five days of this past February.
  • The $690 billion "cost" over ten year of Bush's tax cuts for the top two percent richest Americans, amounts to $69 per year; $5.75 billion per month, or perhaps approximately $200 million per day divided in 365 days. Again, $200 million per day (give or take a few million)is the"costs" of tax cut, while new overall debt per day rises by $7.9 billion.
With this in mind, one wonders how cutting a mere $60 billion spread through the next seven month, would make any negative dent in the jobs market as some economists warned, or a dent in important programs as democrats - who via ObamaCare ripped $500 billion out of Medicare -- warned. Besides, if a $787 billion stimulus funded between 1.3 and 3.5 million jobs, how can cutting only sixty billion suddenly cost up to 700,000 jobs?
The Washington Times reports that the federal deficit for February 2011, was approximately $223 billion. No I didn't write 2.23 billion dollars. It is $223 billion; a record for one month. Here is some context:

  • Dividing the $223 billion in the 28 days of February amounts to $7.9 billion in new debt per day.
  • Republicans are trying to cut spending by $60 billion for the remaining seven months of the current budget year. This is $8.57 billion in cuts per each month. No, not per day. $8.57 per month.
  • The $4 billion in "cuts" that Republicans won last week, is equivalent to the amount debt raised in any given 12-13 hours, (hours that is), of a day in February.
  • If we divide in twelve months the $412 billion deficit of FY 2004 ($34.43 billion per month), the largest deficit year of President Bush and the recent Republican Congress, it is less debt than any five days of this past February.
  • The $690 billion "cost" over ten year of Bush's tax cuts for the top two percent richest Americans, amounts to $69 per year; $5.75 billion per month, or perhaps approximately $200 million per day divided in 365 days. Again, $200 million per day (give or take a few million)is the"costs" of tax cut, while new overall debt per day rises by $7.9 billion.
With this in mind, one wonders how cutting a mere $60 billion spread through the next seven month, would make any negative dent in the jobs market as some economists warned, or a dent in important programs as democrats - who via ObamaCare ripped $500 billion out of Medicare -- warned. Besides, if a $787 billion stimulus funded between 1.3 and 3.5 million jobs, how can cutting only sixty billion suddenly cost up to 700,000 jobs?