Federal Budget Deficit Hits Record For May Of $189.7 Billion
The federal budget deficit soared to a record for May of $189.7 billion, pushing the tide of red ink close to $1 trillion with four months left in the budget year.
AP
Published: June 10, 2009
Published: June 10, 2009
WASHINGTON (AP) - The federal budget deficit soared to a record for May of $189.7 billion, pushing the tide of red ink close to $1 trillion with four months left in the budget year.
The rising deficit reflects increased government spending due to the recession, and billions of dollars spent on bailouts for banks and other troubled companies.
The Treasury Department says the red ink so far this year totals $991.9 billion.
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