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he US budget deficit more than tripled to a record $1.4 trillion (£877bn) in the year to 30 September, according to US Congress estimates.
The CBO said the increased spending was due in large part to the government's Troubled Asset Relief Program, the $787bn economic stimulus and the rescue of mortgage giants Fannie Mae and Freddie Mac.
Originally posted by kiwifootThe US budget deficit more than tripled to a record $1.4 trillion (£877bn) in the year to 30 September, according to US Congress estimates.
The financial crisis cut the net worth of the nation's 400 most wealthy individuals to $1.27 trillion this year, according to published list.