CBO: Budget Deficit Reaches Record $1.4 Trillion The federal budget deficit for the just-completed fiscal year 2009 reached $1.4 trillion, according to the Congressional Budget Office. This record number was due to multiple factors, including falling tax revenues due to the recession, corporate bailouts and stimulus spending. This was triple the previous record of $459 billion, which was reached last year.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=137150