In 2008, the deficit was $958 billion. One year later, it has set an all-time record of $1.42 trillion, with October being the 13th straight month to show a monthly deficit.
The highest level since the World War II-era deficit hit 21.5 percent of the gross domestic product in 1945, this year's deficit was 9.9 percent of the GDP. The imbalance is mostly due to the lower receipts of individual and corporate taxes, which at $135.3 billion, are a 17.9 percent drop from last October.
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