The US federal budget deficit has tripled to a record high of $1.42 trillion in the past year amid the worst economic crisis in decades, according to government data released on Friday.

The figure for the 2009 fiscal year, which ended Sep 30, represents about 10 per cent of US gross domestic product (GDP), the highest percentage since 1945. That compares to a deficit of 3.2 per cent of GDP in 2008.