Federal deficit totals $164.4B in November

By MARTIN CRUTSINGER - AP

Wednesday, December 10, 2008; 3:03 PM

WASHINGTON -- The federal government registered a record budget deficit for the month of November, reflecting the impact of a recession on tax receipts and the mounting costs of the $700 billion financial rescue program.

The country remains on track to hit a record deficit of $1 trillion or more for the entire year, which would be more than double the previous all-time high set last year.