U.S. BUDGET DEFICIT TRIPLES TO $957 BILLION SO FAR THIS FISCAL YEAR
April 11th, 2009Via: MarketWatch:
The U.S. federal budget deficit rose to a record $956.8 billion in the first six months of the fiscal year after the government stepped up spending to cope with a recession that has depressed tax receipts, the Treasury Department reported Friday.
The deficit is well on its way to the $1.75 trillion — or 12.3% of gross domestic product — that the White House has estimated for the full fiscal year, which ends in September.
The deficit through the first six months is more than three times higher than it was at this time last year.
