The annual budget deficit reached $1.4 trillion.

WASHINGTON – The federal government's budget gap is huge — but by some measures, it's been bigger in the past. The annual budget deficit reached $1.4 trillion in fiscal year 2009, the Obama administration said Friday, a record sum by far in dollar terms. It's the result of both a huge jump in spending and a sharp drop in tax revenue. In effect, the federal government went on a spending binge at the same time it received a sharp pay cut. And if, like an overextended consumer, Washington doesn't mend its ways, it will pay more and more in interest. Interest payments could balloon to $799 billion in 2019 from $191 billion in 2009, according to an estimate by the nonpartisan Congressional Budget Office...Link