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Politics : Politics for Pros- moderated

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To: DMaA who wrote (328022)	10/7/2009 6:08:16 PM
From: FJB	of 794091

CBO: Budget deficit hit record $1.4T in 2009 (AP) – 28 minutes ago WASHINGTON — Congressional analysts say the federal budget deficit tripled to a record $1.4 trillion for the 2009 fiscal year that ended last week. The unprecedented flood of red ink flows from several factors, including a big drop in tax revenues due to the recession, $245 billion in emergency spending on the Wall Street bailout and the takeover of mortgage giants Fannie Mae and Freddie Mac. Then there is almost $200 billion in costs from President Barack Obama's economic stimulus bill. The previous record deficit was $459 billion and was set just last year. Obama has attributed the nation's dismal fiscal situation to the financial and economic crises he inherited.

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