The annual 2009 US Government Deficit is reported to be 1.42 Trillion Dollars.

What is $1.42 trillion? It’s more than the total national debt for the first 200 years of the Republic, more than the entire economy of India, almost as much as Canada’s, and more than $4,700 for every man, woman and child in the United States.

It’s the federal budget deficit for 2009, more than three times the most red ink ever amassed in a single year. (more…)

LOS ANGELES, June 16, 2009 – In its second quarterly report of 2009, the UCLA Anderson Forecast indicates that there is no quick fix for what is ailing the US economy and that it is still “very sick.”

“Tepid” Economic Growth for 2009

UCLA Anderson Forecast senior economist David Shulman notes that the US Economy will experience “the weakest economic recovery of the postwar era”.   The Forecast sees the “tepid” growth of gross domestic product improving from negative growth in the second quarter of this year to nearly perceptible growth in the final quarter. (more…)