So asks Monty Pelerin (www.economicnoise.com) in a report* that Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) presents below for your enlightenment.

Pelerin goes on to provide an excerpt from The Washington Post which was one of the few news outlets to report that:

• The federal government recorded its worst monthly deficit in history in February, according to a preliminary report Wednesday from the Congressional Budget Office that said the deficit in fiscal year 2012 is already more than half a trillion dollars.
• The CBO’s figures show that despite repeated efforts to trim spending, the government has borrowed 42 cents of every dollar it spent during the first five months of this fiscal year.
• The nonpartisan agency projected the government will run a deficit of $229 billion in February, the highest monthly figure ever. The previous high was $223 billion a year ago, in February 2011.
• It is the 41st straight month the government has run a deficit — itself a record streak that dates back to the final months of President George W. Bush’s tenure. Before now, the longest streak on record was 11 months.

To read the rest of this report, go here.

*http://www.economicnoise.com/2012/01/12/inflation-or-deflation-before-the-unavoidable-depression/

Editor’s Note: The above article has been has edited ([ ]), abridged, and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.

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