WASHINGTON (CNN) -- The White House on Monday predicted a record deficit of $490 billion for the 2009 budget year, a senior government official told CNN.

President Bush inherited a budget surplus of $128 billion when he took office in 2001 but has since posted a budget deficit every year.

The Bush administration has spent heavily on the wars in Iraq and Afghanistan, and faces a large budget shortfall in tax revenue because of Bush's tax cuts and a souring economy.

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The White House goes on to blame the soaring national debt on Clinton, because he was such a cheap bastard and was sooo mean for leaving them that huge surplus like some kind of hard ass...