10/08/2009 Leave a comment
1.4 trillion is the amount of the budget deficit for the 2009 fiscal year, according to the nonpartisan Congressional Budget Office (CBO). This deficit, the highest in our economy in over half a century, was estimated for 2009 until September 30th.
For the month of September alone, the U.S. ran an estimated deficit of 31 billion.
Patrick Yoest for Dow Jones Newswires said that “The fiscal 2009 spending is equal to 25% of the nation’s gross domestic product, which the CBO states is “the highest level in over 50 years.”
Yoest said that “The CBO in its monthly budget report states that the fiscal 2009 deficit was estimated to equal 9.9% of gross domestic product in the U.S. – the largest deficit relative to the nation’s gross domestic product since 1945.
So much for fiscal responsibility!