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Recession, bailout costs push deficit to record!!

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The recession and massive costs for the financial bailout have pushed the federal deficit to an all-time high for the first four months of the budget year. The Treasury Department says the deficit for October through January totals $569 billion, more than six times larger than the imbalance during the year-ago period. The deficit for January alone totaled $83.8 billion, worse than the $78 billion economists expected.

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