CBO: Deficit Mushrooming Even Faster Than Thought

The Congressional Budget Office this morning revealed that the deficit has mushroomed even faster than previously thought, with the U.S. government now spending more than $2 for every $1 of revenue it takes in. This quadruples the single-year deficit from last year's record.

Here's the math:

2009 budget: $3.59 trillion

2009 deficit: $1.84 trillion

deficit % of total: 51.25%

Unbelievable! Meanwhile, Nobel Laureate Paul Krugman today says the government isn't spending aggressively enough! The guy must be a lunatic!