Operation Fiscal Trainkwreck Going according to plan

White House to Project Record Deficit
The White House will project soon that this year's federal deficit will exceed $420 billion, congressional aides said Tuesday, a record figure certain to ignite partisan warfare over President Bush's handling of the economy.

The best part of this story though is that the Administration has been trying to put a positive spin on it:

Either way, the White House was ready to emphasize that the figure is well below the $521 billion it projected for this year last February, and tie it to improvements in the economy.

A bit like that whole "even if we did torture innocent people, at least we aren't as bad as Saddam Hussien!" line of reasoning.