CBO Projects $1.2 Trillion Deficit for 2009

The Congressional Budget Office (CBO) is projecting that the federal government's deficit will reach a record $1.2 trillion in 2009, given that government spending and tax laws do not change.

The $1.2 trillion figure does not include the $775 billion economic stimulus package proposed by President-elect Barack Obama and congressional Democrats are pushing.

The CBO made its projection today in a report on the country's economic and budget outlook from 2009 to 2019. It also predicted that

More in Regulation

Trade groups ask White House to stop creating regs for contractors

Read more »