| Record U.S. budget deficit in 2009 |
| World - Economy | |||
| Thursday, 08 October 2009 12:26 | |||
The deficit reached 9.9% of GDP and it is the highest since 1945.Analysts in the U.S. Congress calculated that the budget deficit for the financial 2009, which ended in late September, has reached record $1409 billion. The high U.S. budget deficit this year was caused by the drastic reduction of tax revenue because of the economic crisis and rising costs. The previous record deficit was last year ($459 billion).
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The deficit reached 9.9% of GDP and it is the highest since 1945.





