Federal Deficit at 430.69 Billion Through January

WASHINGTON ( AP) - The federal deficit through the first four
months of the budget year is running at a record-breaking pace even
though the deficit in January was slightly smaller than expected.

The massive tide of red ink reflects the continued fallout from
a deep recession and a severe financial crisis. It highlights the
formidable challenges President Barack Obama will face in trying to
get the deficit down to more manageable levels.

The Treasury Department said Wednesday that the deficit for
January totaled $42.63 billion. That left the total of red ink so
far this budget year at $430.69 billion, 8.8 percent higher than
last year when the deficit soared to an unprecedented level of
$1.42 trillion.

(Copyright 2010 by The Associated Press.  All Rights Reserved.)