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Bush Leaving Next President Record Federal Budget Deficit Approaching $490 Billion

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Bush Leaving Next President Record Federal Budget Deficit Approaching $490 Billion: The next president will inherit a record budget deficit of $482 billion, according to a new Bush administration estimate. A Bush administration official said the deficit was being driven to an all-time high by the sagging economy and the stimulus payments being made to 130 million households in an effort to keep the country from falling into a deep recession. A $482 billion deficit approaching billion would easily surpass the record deficit of $413 billion set in 2004.

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