Figures in the 2008 Federal Budget report that at the end of 2001 there was a surplus of $128.2 million. Followed by a deficit of $157.8 million in 2002.
The same study projects a surplus of $61 million by 2012. Now were I cynical does that not mean that President Obama's pledge to cut the deficit to $500 million mean that he will be taking a projected surplus of $61 million down to a deficit of $500 million, an increase of $561 million?