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RECORD-BREAKING

U.S. Deficit Tops $1 Trillion

$94.3 billion in debt recorded in June alone.

cheats/2009/07/13/us-deficit-tops-1-trillion/barack-obama-economy-02_buvfwt

Charles Dharapak / AP Photo

Is this what an economic recovery looks like? The U.S. deficit for 2009 has risen to $1.08 trillion, setting a new record. In June alone, the U.S. accrued an additional $94.3 billion of debt. Last year at this time, the cumulative deficit was at a paltry $285.8 billion. President Obama's economic prognosticators forecast a deficit of $1.84 for the 2009 fiscal year--that number will likely be due for an upgrade. MarketWatch says that the fiscal year of 2010 doesn't look much better: "The administration is projecting a $1.26 trillion deficit." Ouch.

Read it at MarketWatch

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