Fred Business News - The Treasury Department says the federal deficit swelled to $268.7 billion in the first nine months of this budget year as record spending during the period outpaced revenues.

The department's fresh look at the government's balance sheets, released Friday, shows that the deficit for the budget year that began Oct. 1 was up sharply from the red ink of nearly $121 billion for the corresponding nine-month period last year.

The new year-to-date deficit of $268.7 billion was the third-highest on record. A flood of ...   more »