U.S. rings up record deficit: $1.42 trillion
Bailout, stimulus actions, drop-off in revenue cited
Posted: October 17, 2009 at 4:16 a.m.
The federal budget deficit has surged to an all-time high of $1.42 trillion as the recession caused tax revenue to plunge while the government was spending to stabilize the financial system and jumpstart the economy.
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Front Section, Pages 1 on 10/17/2009
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