ON AIR NOWClick to Play
Streaming Live from LibertyTalk.fm
Pop Out Window
The deficit is expected to hit 1.4 trillion dollars (£877bn) in the 2009 fiscal year, the non-partisan Congressional Budget Office has announced.
The figure is some $950bn (£595bn) greater than the shortfall recorded the previous year.
The 2009 fiscal year has seen the recession enforce a big drop in tax revenues amid a series of extraordinary government spending.
The bailing out of Wall St and the takeover of mortgage giants Fannie Mae and Freddie Mac cost $245bn (£153bn) in emergency spending.
President Barack Obama's economic stimulus bill added a further $200bn (£125bn) in costs.
Join us on our
Share this page with your friends
on your favorite social network:
Stats by StatCounter