Federal deficit hits all-time high $1.42 trillion
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 U.S. financial system and jump-start the economy.
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 U.S. financial system and jump-start the economy.
The imbalance for the budget year ended Sept. 30, more th
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