Another ignominious Bush record:
The White House is expected to report a projection for a $490 billion budget deficit for the budget year ending in September 2009, a number that would be the highest number recorded.
Senior administration officials confirmed the number to FOX News on Monday, but downplayed the impact of the number. The official said that as a percentage of the U.S. gross domestic product, the deficit projection would be roughly 3 percent to 4 percent.
Another senior administration official said "a lot can happen" in 18 months that could worsen or improve the outlook, such as an improved economy leading to better tax returns, or increased spending under a new administration. The official specifically warned about the impact a Democrats.
"Democrats could blow the doors off spending and drive the deficit even higher," the official said.
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