The budget deficit surged as tax revenues declined due to surging unemployment and weak corporate profits, while government spending spiked. Here are some of the more relevant data:

In March, the deficit was 300% larger compared to the deficit in March 2008.

Corporate revenue (business tax receipts) was down 57% compared to March 2008.

Individual revenue (income tax receipts) was down 15% compared to March 2008.

The government spent 41% more compared to March 2008. Almost half of this new spending was dedicated to mortgage lenders, Fannie Mae and Freddie Mac.

Social Security spending rose 7%.

Medicare and Medicaid spending rose 14%.

Defense spending rose 8%.

While the Bush administration initiated the explosion of new spending late last year, the Obama administration is accelerating it to unprecedented levels.

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