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Decreased tax revenue and high spending resulted in an unusually large budget deficit of about $1.4 trillion, well above the $407 billion projected in the FY 2009 budget. [10] A 2009 CBO report indicated that $245 billion, about half of the excess spending, was a result of the 2008 TARP bailouts. Spending increases and tax credits resulting ...
The United States has just logged its biggest budget deficit year in history.The nation posted a $46.6 billion deficit for September, and a record $1.42 trillion deficit for the 2009 fiscal year ...
More good news for the U.S. economy, as the nation's budget deficit narrowed to $120.3 billion in November, the U.S. Treasury Department announced Thursday. A Bloomberg News economists survey had ...
The federal budget deficit has surged to an all-time high of $1.42 trillion as the recession caused tax revenues to plunge while the government was spending massive amounts to stabilize the ...
The annual budget deficit fell significantly during the Obama administration, although debt relative to the size of the economy increased. Comparison of CBO 2009 deficit forecasts versus actual results 2009–2016. The deficit was cut by nearly two-thirds, falling from $1.4 trillion in FY2009 to below $500 billion by FY2014.
In a disappointing start to the federal government's new fiscal year, the nation posted a higher-than-expected $176.4 billion budget deficit for October, the Treasury Department announced Thursday ...
The Congressional Budget Office reported in October 2009 the reasons for the changes in the 2008 and 2009 deficits, which were approximately $460 billion and $1.41 trillion, respectively. The CBO estimated that ARRA increased the deficit by $200 billion (~$276 billion in 2023) for 2009, split evenly between tax cuts and additional spending ...
It's hardly surprising, but, as always, it is something of a shock: The federal government spent some $111 billion more than it brought in last month, pushing its budget deficit for the fiscal ...