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...
