According to USA Today:
Obama team makes it official: Budget deficit hits record. By a lot.
The Obama administration has released new deficit numbers, and they are not pretty. The deficit for Fiscal Year 2009, which ended Sept. 30, came in at record $1.42 trillion, more than triple the record set just last year. In addition, future deficits are currently projected to total $9.1 trillion in the coming decade…
As the government is incapable of reigning in its spending, we can expect them to make up the difference on the other end of the equation. Prepare for the Libs to implement more taxes on more things, under more names and on more people than any time in history.