US President George Bush has proposed a record $3.1 trillion budget for the 2009 financial year. The plan will widen the US government deficit with an economic stimulus package and spending on the war in Iraq.
Bush's spending plan, sent to Congress for the year starting October 1, forecasts heavy deficits for the government - $410 billion for the current year and $407 billion for the coming year. It is the first budget plan over $3 trillion.
Bush proposed $515.4 billion in military spending for the upcoming year, up from $479.5 billion in fiscal 2008. The plan includes $70 billion for the 'global war on terror'.
He also budgeted over the current and upcoming year $145 billion for the economic growth package the White House and Congress are working to pass to help revive flagging economic growth.
The document includes a five-year budget outline that would temporarily increase the deficit for 2008 and 2009 before cutting it in subsequent years.
