Red ink is rising to record levels in the United States.
The Congressional Budget Office has forecast a record $US1.8 trillion deficit for the fiscal year that ends 30 September, or 13.1% of gross domestic product.
President Barack Obama has proposed a $US3.55 trillion budget for 2010.
In January, the CBO forecast deficit was almost $US1.2 trillion for fiscal 2009.
The CBO has also revised its forecast about accumulating deficits over the next 10 years, saying they would total $US9.3 trillion from 2010 -2019.
It also projects the US economy will contract 3% in 2009 before growing 2.9% next year and expanding 4% in 2011.
