WASHINGTON - The US government deficit hit a record for October as the new budget year began where the old one ended: with the government awash in red ink.
Economists worry that if such a deficit continues it could push up interest rates, further dragging on the fragile economic recovery.
The Treasury Department said yesterday that the deficit for October totaled $176.4 billion, the fifth-largest monthly deficit ever and the 13th straight month to show a deficit - another record.
