Daniels inherited a $645 million budget shortfall. In his first two years in office Daniels had taken successful (but some controversial) steps to improve the [[economy]]. He created the private Indiana Economic Development Corporation to replace a government-run agency, and created the state's first Office of Management and Budget. Within a year Indiana had it's first balanced budget in eight years and the state had an annual surplus of $370 million. In 2005, Daniels endorsed switching Indiana's central time zone to an eastern time zone, saying that businesses outside of the state couldn't keep track of what time it was in Indiana.<ref>http://www2.indystar.com/articles/5/207646-7265-253.html</ref> | Daniels inherited a $645 million budget shortfall. In his first two years in office Daniels had taken successful (but some controversial) steps to improve the [[economy]]. He created the private Indiana Economic Development Corporation to replace a government-run agency, and created the state's first Office of Management and Budget. Within a year Indiana had it's first balanced budget in eight years and the state had an annual surplus of $370 million. In 2005, Daniels endorsed switching Indiana's central time zone to an eastern time zone, saying that businesses outside of the state couldn't keep track of what time it was in Indiana.<ref>http://www2.indystar.com/articles/5/207646-7265-253.html</ref> |