WASHINGTON (AP) — The federal budget deficit tripled to a record $1.4 trillion for the 2009 fiscal year that ended last week, congressional analysts said Wednesday.The Congressional Budget Office estimate, while expected, is bad news for the White House and its allies in Congress as they press ahead with health care overhaul legislation that could cost $900 billion over the next decade.The unprecedented flood of red ink flows from several factors, including a big drop in tax revenues due to the recession.—-Contact The Daily Reveille’s news staff at [email protected]
Federal budget deficit hits record-high $1.4T in 2009
By The Associated Press
October 7, 2009