Obama Borrowed Six Times as Much in Feb. as Sequester Cuts This Year

Obama Borrowed Six Times as Much in Feb. as Sequester Cuts This Year

The Obama administration borrowed in one month nearly six times as much money as will be cut from the budget during the whole year due to the sequester. 

The federal government’s debt climbed by $253.5 billion in February, while the Obama administration and Democrats were complaining about the $44 billion in spending cuts that will take place in fiscal year 2013 due to sequestration (an idea that was conceived in Obama’s White House). 

As CNS News notes, the federal debt on Jan. 31, 2013 was $16,433,791,850,294.04. At the close of business on Feb. 28, 2013, the federal debt was $16,687,289,180,215.37,  an increase of $253,497,329,921.33 for the month.

Meanwhile, “the CBO explained that only $44 billion in planned federal spending will be cut during this fiscal year as a result of sequestration.”

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