WASHINGTON, July 8 The U.S. budget deficit
climbed to an estimated $1.1 trillion during the first nine
months of the 2009 fiscal year, the U.S. Congressional Budget
Office said on Wednesday.
The nonpartisan budget analysis for Congress showed that
receipts in June were an estimated $46 billon, down 18 percent
from the same period in 2008. June marked the 14th consecutive
month in which receipts were lower than those in the previous
Corporate receipts dropped sharply during the first nine
months of fiscal 2009, falling by $133 billion or 56 percent,
largely due to continued weakness in corporate profits, the CBO
CBO has estimated that the budget deficit would likely
crest at $1.8 trillion this fiscal year, blowing away previous
records. It has also forecast that the deficit would likely
drop to almost $1.4 trillion in fiscal 2010, which begins Oct.
The deficits have also expanded because of the $787 billion
economic stimulus package Congress approve, as well as outlays
for the $700 billion financial bailout program that has aided
struggling banks and U.S. automakers.
(Reporting by JoAnne Allen; Editing by Kim Coghill)