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Richard Cowan and Jeremy Pelofsky, Reuters: "The US budget deficit will swell to a record $1.186 trillion in fiscal 2009, congressional forecasters said on Wednesday, the result of an economic recession that has cut tax receipts and caused massive government bailouts of banks and automakers. The out-of-control deficit picture by the Congressional Budget Office illustrates the daunting economic challenges President-elect Barack Obama faces when he takes office on January 20."

http://www.truthout.org/010809L



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