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Deficit grows by $181 billion in July, hits $1,300,000,000,000

While Congress debates how to take over the health-care industry, more evidence arrives that shows it can't even handle the business it has already. The Congressional Budget Office estimates that the federal deficit accelerated in July by $181,000,000,000 ($181 billion) and hit $1,300,000,000,000 ($1.3 trillion) for 2009. The massive new hit to the annual deficit comes from rapidly falling revenues, and an even more rapid increase in spending: ...

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