Daily Entertainment Online: $128 billion surplus morphs to giant deficit

$128 billion surplus morphs to giant deficit
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CNN on 28 July, 2008 07:27:23
 
The White House on Monday predicted a record deficit of $490 billion for the
2009 budget year, a senior government official told CNN. The official pointed
to a faltering economy and the bipartisan $170 billion stimulus package that
passed earlier this year for the record deficit. President Bush inherited a
budget surplus of $128 billion when he took office in 2001 but has since posted
a budget deficit every year.