The White House estimated Monday that President Bush would leave a record $482 billion budget deficit to his successor, a serious turnaround in the fiscal situation of the nation from 2001, when Mr. Bush took lead after three consecutive years of budget overflows.

The shortage announced by Jim Nussle, the White House budget director, does not consider the entire expense of military operations in Iraq and Afghanistan, the potential $50 billion cost of another economic boost package, or the possibility of more abrupt losses in tax profit if individual income or corporate earnings deteriorate. The numbers also do not take under consideration any drains on the national treasury that might happen because of additional downslides in the housing market.

The White House financial prognosis was made before passage of the vast housing assistance package that Mr. Bush has pledged to sign. That regulation would put taxpayer money at risk in several ways, especially if housing rates keep on falling.

In 2007, the deficit was $162 billion. Nussle forecasted Monday that the deficit would reach $389 billion in the current 2008 fiscal year before skyrocketing to $482 billion in the 2009 fiscal year, which begins in October.

The 2009 predicted deficit would be the all-around biggest in absolute terms, easily outranking the $413 billion record registered in 2004. The White House and many specialists favor measuring the deficit as a share of the economy. Thus, the forecasted 2009 deficit would be 3.3 percent of the economy. Although it is the largest share since 2004, it is still under the percentages recorded in the ‘80s and the beginning of the ‘90s. In 1983, the deficit was 6 percent of the total economy.

The grim perspective for the budget will put an obstacle against the next president’s ability to develop ambitious spending plans. Moreover, it adds to fiscal pressures that were already building due to the Medicare and Social Security increase.

Senator John McCain of Arizona, the presumptive Republican presidential nomination, said the new report indicated “the dire fiscal condition of the federal government.”

“There is no more striking reminder of the need to reverse the profligate spending that has characterized this administration’s fiscal policy,” Mr. McCain said.

According to Jason Furman, the economic policy director for the campaign of Senator Barack Obama of Illinois, the presumptive Democratic nominee for the White House would cut wasteful spending, close corporate tax loopholes and roll back tax cuts for the wealthiest Americans, “while making health care affordable and putting a middle-class tax cut in the pocket of 95 percent of workers and their families.”

The latest 2009 deficit estimation was $74 billion higher than Bush and Nussle had foreseen in the president’s budget just six months ago.