House of cards.

(CNS News) — The federal government ran a deficit of $929 billion in just the first 8 months of fiscal 2011, which began on Oct. 1, 2010, according to the Congressional Budget Office’s monthly budget review for June.

“CBO estimates that the government recorded a deficit of $929 billion for the first eight months of the fiscaly year,” said CBO.

Last year, the government ran a deficit of $935 billion in the first 8 months of the year, according to CBO.

The $929 billion deficit the government ran up in the first 8 months of fiscal year 2011 puts the government on track to hit an annual budget deficit of approximately $1.4 trillion for the fiscal year, which is what the CBO projected this year’s deficit would be in its most recent analysis of President Obama’s budget proposal published April 15.

Keep reading…