Jay Hancock's blog: Congress analysis: 2009 Deficit will hit $1.2 trillion - Economic navigation and sightseeing

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January 7, 2009

Congress analysis: 2009 Deficit will hit $1.2 trillion

Beautiful. This fiscal year's deficit will equal nearly 9 percent of the value of all the goods and services produced by the country. Or, in dollars, $1.2 trillion, says the Congressional Budget Office. Blame the bailout, plunging tax revenues etc.

FEDERAL DEFICIT OR SURPLUS, PERCENTAGE OF U.S. ECONOMY

Posted by Jay Hancock at 12:43 PM | Permalink | Comments (0)

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About Jay Hancock

Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Wednesdays and Fridays.

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