Records are meant to be broken, and another one fell today. Federal government spending for the month of March has been totaled at $250 billion, setting the all time record for most spending in a month. The old record was set in February, at $232 billion. The overall amount added to the deficit for the month was $85.5 billion, which, unfortunately, is not a record. But it is a close second to February's deficit of $119.2 billion. The projected deficit for this budget year, which ends September 30, is $423 billion, another record. Add together only February and March and we're almost halfway there.
Do deficits matter? Here is a great article from 2003 arguing persuasively that they do.
