'09 budget deficit poised to hit $400B

WASHINGTON — The federal budget deficit would rise to about $400 billion this year and next under the 2009 budget President Bush will submit to Congress on Monday, even as the administration pushes big cuts in the growth of Medicare.

The economic slowdown will cause a substantial drop in revenue, and the fiscal stimulus package moving through Congress will add about $150 billion in spending. Those two factors are the biggest reasons for the reversal in a deficit that had been declining for three years.



http://www.usatoday.com/news/washington/2008-01-31-bush-budget_N.htm