$128 billion surplus morphs to giant deficit

The White House on Monday predicted a record deficit of $490 billion for the 2009 budget year, a senior government official told CNN. The official pointed to a faltering economy and the bipartisan $170 billion stimulus package that passed earlier this year for the record deficit. President Bush inherited a budget surplus of $128 billion when he took office in 2001 but has since posted a budget deficit every year.

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