Fed. budget deficit sets March record $192.3B

April 10, 2009 11:10:14 AM PDT
The Treasury Department says the federal budget deficit soared to $192.3 billion in March, and is near $1 trillion just halfway through the budget year, as costs of the financial bailout and recession mount. [CHECK THE MARKETS: Get the latest numbers from Wall Street]
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Last month's deficit, a record for March, was significantly higher than the $150 billion that economists expected.

The deficit already totals $956.8 billion for the first six months of the budget year, also a record for that period. The Obama administration projects the deficit for the entire year will hit $1.75 trillion.

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