The Bush administration said the federal budget deficit would rise to $427 billion this year.

The amount is higher than the $331 billion deficit the administration had previously expected. Part of the increase is due to $80 billion that President Bush is seeking to fight the wars in Iraq and Afghanistan.

The nonpartisan Congressional Budget Office forecast a rise in the deficit to $368 billion. This figure did not include Bush's war spending.

This is the fourth year a row the deficit has increased under Bush.

Get the Story:
Record '05 Deficit Forecast (The Washington Post 1/26)
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Bush Aides Say Budget Deficit Will Rise Again (The New York Times 1/26)
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