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US in Record $455B Federal Deficit

HeadlineOct 15, 2008

In other economic news, the White House has reported a record federal deficit of nearly $455 billion in fiscal 2008. That’s an increase of $162 billion over 2007. Economists are predicting an even higher number for fiscal year 2009, which began this month. Estimates say the deficit could reach as high as $1 trillion.

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