Budget Gap tops $1 Trillion for Fiscal Year

“The U.S. budget deficit topped $1 trillion for the first nine months of the fiscal year and broke a monthly record for June as the recession subtracted from revenue and the government spent to rejuvenate the economy.

The shortfall for the fiscal year that began Oct. 1 totaled $1.1 trillion, the first time that the gap for the period surpassed $1 trillion, Treasury figures showed today in Washington. The excess of spending over revenue for June was $94.3 billion, the first deficit for that month since 1991, according to data compiled by Bloomberg.”

Read the rest of the story from Bloomberg here.

If you think $1,000,000,000,000.00 really is not that much money here are a few interesting comparisons from Mint.com.  (See the rest here)

TrillionMilitary       TrillionVacation

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