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What is Federal Budget Deficit Analysis FY 2010 about?

The federal budget deficit was $390 billion in the first quarter of fiscal year 2010, $56 billion more than the same period last year. Revenues fell 11% due to lower individual income and corporate taxes. Spending rose slightly as increases in unemployment benefits, Medicaid, and interest on the debt were partially offset by declines in TARP and payments to Fannie Mae. The budget deficit for December 2009 was $92 billion, $40 billion more than December 2008, due to lower tax receipts and higher outlays for

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