budget surplus
Revenue exceeds spending
A budget surplus occurs when income exceeds spending over a given period—the opposite of a deficit.
Governments run surpluses when tax revenue outpaces expenditures: The country posted its first budget surplus in a decade.
Surpluses can reduce debt or fund future spending, though they're politically rare since governments face pressure to spend or cut taxes.
- national debtGovernment's accumulated borrowing
- taxationCompulsory government revenue collection
- tax revenueGovernment's collected funds
- macroeconomicsStudy of aggregate economies
- fiscal responsibilityPrudent management of funds
paying down debt · Clinton · windfall · fiscal policy · austerity measures · financial planning · cash reserves · debt repayment · deficit reduction · cost-cutting · in the black · black ink · welfare programs · public spending · economic growth · trade balance · treasury · cushion
- State EconomiesGDP, tax revenue, economic development, job growth, unemployment rate
- economicssupply and demand, inflation, GDP, GNP, gross domestic product
- economyGDP, money, inflation, inflation rate, GNP
- money managementsaving, savings, budgeting, expense tracking, cash flow
- reservesreserve, reserves, bank reserves, cash reserves, fuel reserve
- economic policymonetary policy, tax policy, fiscal discipline, fiscal stimulus, fiscal restraint
budget surplusbudget deficit
Spending exceeding revenue
deficit · fiscal deficit · shortfall · negative balance · red ink
budget surplusdeficit spending
Expenditures funded by debt
fiscal stimulus · pump priming · government spending · austerity · government borrowing