/IRBIS, October 8, 2009/ - U.S. federal budget deficit in fiscal year 2009 (ending on Sept 30) amounted to about $ 1.4 trillion or for $ 950 billion more than in 2008, stated in published report of U.S. Congressional Budget Office (Congressional Budget Office). In 2009 the deficit amounted to 9.9% of gross domestic product (GDP) compare to 3.2% in 2008.

This level of deficit is the highest since 1945. A significant increase in the deficit due to a reduction in revenue and increased costs. Revenues in 2009 decreased by $ 420 billion (17%) than in 2008, up 15% of GDP, its lowest level in more than 50 years. At the same time, expenditures have increased by more than $530 billion (18%) in 2009 to almost 25% of GDP, its highest level in more than 50 years.

According to CBO, $ 245 billion was spent on the Troubled Asset Relief Program (TARP) and net payments on Fannie Mae and Freddie Mac. In addition, nearly $ 200 billion was spent in the framework of the Law on the rise, and reinvest (American Recovery and Reinvestment Act, ARRA).

[2009-10-08]