U.S. government on pace to post record $1 trillion deficit

12/11/2008 | Bloomberg Businessweek

The U.S. deficit could reach a record $1 trillion this budget year. The projection comes after the federal government hit an all-time-high deficit in November. The figure for the fiscal year that started Oct. 1 could also be a record high in terms of percentage of the economy in the post-World War II era.

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