Over the past decade, China's budget deficit was very low, and in 2007 it ran a budget surplus.

过去10年来，中国的预算赤字很低，2007年还出现了预算盈余。

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Table 1 below shows Federal Tax Revenues, Federal Expenditures and the Budget Surplus or Deficit from 1993 (the first year of the Clinton Presidency) to 2011.

FORBES: After Bush Tax Cuts, Payments By Wealthy Actually Increased

They were ideas like privatizing Social Security, like moving back from a balanced budget and a surplus to deficit and debt.

CNN: Part 1 of CNN Democratic presidential debate

The president argued that taxes could be cut because the economy and budget surplus were booming, and then that tax cuts were needed to save America from recession and a deficit.

ECONOMIST: Introduction