WASHINGTON – A new White House forecast predicts that the federal budget deficit, which hit a record $1.4 trillion last year, will exceed that figure this year and again in 2011.

The $1.47 trillion budget gap predicted for 2010 represents a slight improvement over the administration’s February forecast.

The estimated gap for next year, $1.42 trillion, is larger than what was predicted in February, primarily because of a drop in expected tax receipts from capital gains.

As the economy improves, the White House forecasts that the deficit will be just over $700 billion in 2013.