The federal budget deficit has surged to an all-time high of $1.42 trillion as the recession caused tax revenues to plunge while the government was spending massive amounts to stabilize the financial system and jump-start the economy.
Federal deficit hits all-time high $1.42 trillionCourtesy Newsvine - business Fri, 10/16/2009 - 13:31
The federal budget deficit has surged to an all-time high of $1.42 trillion as the recession caused tax revenues to plunge while the government was spending massive amounts to stabilize the financial system and jump-start the economy. Related itemsCBO: Federal deficit projected at $1.35T
Tax revenues post biggest drop since Depression
Personal incomes, consumer spending up in December
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