2009 federal deficit surges to .42 trillion
Oct 16, 9:23 PM (ET)
By MARTIN CRUTSINGER
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WASHINGTON (AP) – What is .42 trillion? It’s more than the total national debt for the first 200 years of the Republic, more than the entire economy of India, almost as much as Canada’s, and more than ,700 for every man, woman and child in the United States.
It’s the federal budget deficit for 2009, more than three times the most red ink ever amassed in a single year.
And, some economists warn, unless the government makes hard decisions to cut spending or raise taxes, it could be the seeds of another economic crisis.
http://apnews.myway.com/article/20091017/D9BCHP5O0.html
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