Good chance gold had to be ravagely silenced today in order to disconnect the golden alarm bell on the ultra-critical spending deficit.

Pickpocketed again - VHF

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March 10 (Bloomberg) -- The U.S. budget deficit widened to a record in February as the government boosted spending to help revive the economy.

The excess of spending over revenue increased to $221 billion last month, compared with a shortfall of $194 billion in February 2009, according to Treasury Department figures released today in Washington. The figures show the deficit this year will likely surpass the record $1.4 trillion in the fiscal year that ended in September.

Mounting deficits underscore the challenges facing President Barack Obama and Congress as they seek to preserve the recovery, spur job growth and overhaul the health-care system. The loss of 8.4 million jobs in the last two years has been limiting tax revenue, while stimulus efforts such as the first- time homebuyer credit have added to expenses.

“The Obama administration really has its work cut out for it,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York. “The budget deficit numbers are truly frightening. This deficit is caused not just by over-spending. The receipts side of the budget ledger is suffering from a monumental recessionary hangover.”