Yahoo! News - White House to Project Deficit of $521 Billion in 2004
WASHINGTON (Reuters) - The White House will project that the budget deficit will peak this year at $521 billion, shattering previous records and setting up an election-year battle over President Bush's tax and spending priorities, people familiar with the budget said on Thursday.

In the fiscal 2005 budget he will send to Congress on Monday, Bush will also estimate the 10-year price tag of the newly enacted Medicare prescription drug plan at $539 billion -- far more than initial projections of $400 billion.

Oooops! YET ANOTHER "miscalculation" on Bush's part. How he can propose to keep the tax cuts with a straight face is beyond me.