U.S. Budget Gap Increased $400 Billion in Two Months

The U.S. budget deficit swelled by more than $400 billion in the first two months of fiscal 2009, almost the record size of the prior year that ended September 30, government data showed Dec. 10.

The federal deficit ballooned by a combined $401.57 billion in October and November, the Treasury Department reported.

For all of fiscal 2008, the budget gap stood at $454.79 billion, the highest annual government deficit on record.

In November alone, the deficit widened 67.3% from the same year ago, by $164.39 billion.

Copyright Agence France-Presse, 2008