US Deficit grew by $181 billion in July 09, to a record of $1.3 trilllion. Helped by billions to financial firms bailouts and recession revenue loss.

Spending through July 09 rose to $530 bill, 21% increase over last year 08.

The bailout money for Freddie Mac and Fannie Mae accounted for almost half of the spending increase.

Unemployment benefits have more than doubled, Medicaid spending has grown by a quarter and Medicare spending has increased by 11 percent.

Tax revenue for the first three quarters of 2009 has fallen by approximately $350 billion, or 17 percent compared to the same period last year 08.

The independent budget scorekeeper has projected the deficit to reach $1.8 trillion by the end of the fiscal year, Sept. 30, 2009.

The deficit in 2008 reached $455 billion, which was a record at the time.

TheHill.com - Deficit grew by $181 billion in July