Obama team makes it official: Budget deficit hits record. By a lot. (emphasis added)
The Obama administration has released new deficit numbers, and they are not pretty.
The deficit for Fiscal Year 2009, which ended Sept. 30, came in at a record $1.42 trillion, more than triple the record set just last year.
In addition, future deficits are currently projected to total $9.1 trillion in the coming decade.
The Obama administration’s stimulus also contributed to the near $1 trillion higher deficit, as did lower government revenues in the wake of the recession.
Higher government spending, lower revenues… and upcoming inflation.
As GM said, he owns it now.