Yearly deficits turn into massive piles of debt. Our debt is now developing a fiscal gravitational pull. This does not bode well for the future.
But the future is in the future. The government (and many voters) wants to spend NOW.
(From Stars and Stripes)
The U.S. government posted the largest monthly budget deficit in American history in February, hitting a dramatic milestone as tax revenue lags and spending levels continue to skyrocket.
The government spent $234 billion more than it brought in through tax receipts last month, much more than the deficit levels hit during the global financial crisis.