Treasury: federal deficit already totals record $485 billion in first 3 months of budget year
The federal government already has run up a record deficit of $485.2 billion in just the first three months of the current budget year. And economists say the imbalance for the full year could easily top $1 trillion, pushed to that eye-popping level by the spending the government is likely to do to combat the recession and the most severe financial crisis in generations. The Treasury Department reported Tuesday that the deficit for December totaled $83.6 billion, a sharp deterioration... Full Story
Contribute | Do you have more information about this topic? If so, please click here to contact the editors of ABC News.
24 Comments | Add Yours
