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  • Conservatism, Not in Bush White House: FY09 Budget Deficit Will Reach $482 Billion

    07/28/2008 9:53:26 PM PDT · by TheEaglehasLanded · 37 replies · 641+ views
    National Journal ^ | July 28, 2008 | the eagle has landed
    The Bush administration today projected that the budget deficit for FY09 would be $482 billion, more than the record $413 billion deficit recorded for FY04. The figure includes the $151 billion economic stimulus package enacted in February and would total 3.3 percent of gross domestic product. That compares with 3.6 percent in FY04. For FY08, the projected deficit is $389 billion, 2.7 percent of GDP. The projected FY09 deficit is roughly $70 billion more than the $410 billion FY09 deficit estimated in President Bush's budget proposal released in February and about $320 billion more than the $162 billion FY07 estimated...