The deficit for the 2009 fiscal year is a record breaking, mind blowing, $1.42 trillion. That is more than triple the previous record set just last year. If the government does not cut back on this deficit spending, significant inflation could become a real problem right as the economy begins to turn itself around.
"The Obama administration has released new deficit numbers, and they are not pretty.
The deficit for Fiscal Year 2009, which ended Sept. 30, came in at a record $1.42 trillion, more than triple the record set just last year.
In addition, future deficits are currently projected to total $9.1 trillion in the coming decade."