It's amazing that interest rates aren't much higher when we see news like this.
Even as government receipts posted a rare increase in February, soaring outlays pushed the country's year-to-date deficit up to a record $651.60 billion.
The government's fiscal 2010 year-to-date deficit is up 10.5% from fiscal year 2009.
The government in February alone ran its largest ever monthly deficit—$221 billion, the U.S. Treasury said in releasing its monthly budget statement Wednesday. The government in February 2009 ran a budget deficit of nearly $194 billion.
An increase in corporate tax collections coupled with lower refunds to individual taxpayers drove receipts up 23% to $107.52 billion in February 2010 from $87.31 billion in February 2009.
Government outlays also rose in February because of spending on home-buyer and other tax-credit programs enacted as part of a 2009 stimulus package. Outlays in February stood at $328.43 billion, up nearly 17% from $281.17 billion in the same month a year earlier.
In middle of all the "good" news, you shouldn't miss the point that government spending was more than three times the amount of government revenue.