Congressional Budget Office Predicts $1.8 Trillion Deficit Due in Part to Changes in Tax Policy
Monday, March 23rd, 2009The federal budget deficit for the current year will top $1.8-trillion according to the latest estimates produced by congressional economists
The Congressional Budget Office cited recent government bailouts, tax legislation and the continuing turmoil in financial markets as causes for the growth in the deficit . The latest figures, fueled by the $700 billion Wall Street bailout and diving tax revenues stemming from the worsening recession, would shatter the previous record
