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Federal Deficit Hits $1.38T through August; Economists Estimate 2009 will be Record Year
The federal deficit surged higher into record territory in August, hitting $1.38 trillion with one month left in the budget year. The Treasury Department said Friday that last month's deficit was $111.4 billion, below the $152 billion that economists expected. Still, the imbalance added to a flood of red ink already accumulated through a severe recession and massive spending needed to stabilize the banking system. Posted by: Fred 2009-09-12 |
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