Budget deficit hits $1.4 trillion for '09...

Budget deficit hits $1.4 trillion for '09...

Largest deficit ever.

Adjusted for inflation its the largest since WWII.

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 annual DEFICIT not the federal DEBT.

Remember when the DEBT was in the trillions?

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, $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'seconomic stimulus bill, as well as increases in programs such as unemployment benefits and food stamps.

The previous record deficit was $459 billion and was set just last year.

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Oh yeah, unemployment has gotten worse:

Unemployment rate rises to 9.8% as employers cut more jobs than expected

Greenspan Foresees a Rise in Unemployment

High Unemployment Continues

What exactly did we stimulate? It wasn't my paycheck.