Recession pushes U.S. budget deficit to $1.84 trillion


Let's just say it could have been worse. The White House's budget arm, the Office of Management and Budget, increased its budget deficit forecast for the current year (fiscal 2009) by $90 billion, to $1.84 trillion. Next year's estimate was also raised, to $1.26 trillion.

The new totals bring OMB's forecasts more closely in line with those from the Congressional Budget Office, Congress' watchdog, which has forecast deficits of $1.85 trillion and $1.38 trillion for the two years, respectively.