U.S. posts first April budget deficit since 1983

From Washingtonpost.com

The United States posted its first April deficit in 26 years, a record $20.91 billion shortfall as a deep recession caused revenues to collapse in the year's biggest tax collection month, the U.S. Treasury said on Tuesday.

The deficit, the first for April since a $3.3 billion gap in 1983 as the country emerged from a deep recession, was largely in line with forecasts from Wall Street economists polled by Reuters.

It brought the deficit for the first seven months of fiscal 2009 to a record $802.29 billion after a major positive accounting adjustment for the government's bailout investments.