A balanced budget (particularly that of a government) refers to a budget in which revenues are equal to expenditures. Thus, neither a budget deficit nor a budget surplus exists ("the accounts balance"). More generally, it refers to a budget that has no budget deficit, but could possibly have a budget surplus. A cyclically balanced budget is a budget that is not necessarily balanced year-to-year, but is balanced over the economic cycle, running a surplus in boom years and running a deficit in lean years, with these offsetting over time.
Balanced budgets and the associated topic of budget deficits are a contentious point within academic economics and within politics. The mainstream economic view is that having a balanced budget in every year is not desirable, with budget deficits in lean times being desirable. Most economists have also agreed that a balanced budget would decrease interest rates, increase savings and investment, shrink trade deficits and help the economy grow faster in the longer term.
See more videos at:
http://talkboard.com.au/
In this video, we look at the difference behind a balanced budget, a budget deficit and a budget surplus.
published: 02 Jan 2014
PAY IT BACKWARDS: The Federal Budget Surplus with Milton Friedman
(Filmed circa 2001.) Milton Friedman discusses what should be done with the federal budget surplus? Does it make sense to spend the surplus on new government programs? What benefits the economy more, cutting taxes or paying down the national debt? Nobel Prize-winning economist Milton Friedman offers his advice.
published: 21 Apr 2012
Surplus v Deficit
What's a trade deficit? It's when the amount you spend on purchases is greater than the amount you make from selling your own stuff. Sound familiar? #MarketplaceAPM #EconomicExplainers
Subscribe to our channel!
https://youtube.com/user/marketplacevideos
published: 09 Jun 2014
Budget Surplus - Behind the News
We find out what a budget surplus is, why it’s so sought-after, and whether not this government actually has its hands on one.
TEACHER RESOURCES
Students will develop their knowledge of budgets, financial decisions and the implications of these decisions. Business and Economics - Years 5 & 7
http://www.abc.net.au/cm/lb/10981512/data/budget-surplus---teacher-resource-%28pdf%29-data.pdf
BTN STORY PAGE
http://www.abc.net.au/btn/classroom/budget-surplus/10970678
RELATED BTN STORY
http://www.abc.net.au/btn/classroom/budget-surplus/10528430
http://www.abc.net.au/btn/classroom/budget-surplus/10532688
__
For the past 50 years, Behind the News has been helping to break down current issues and events for young people all around the world. The program is a high-energy, fun way for people to lear...
published: 11 Apr 2019
Budget Deficits (Deficit Spending) and Surpluses Defined, Explained & Compared in One Minute
If you follow financial news media at least occasionally, you'll hear about budget deficits and budget surpluses all the time.
Frankly, it's fairly unlikely to listen to an economic news bulletin and not come across budget deficits and/or surpluses at least once.
But what are these deficits and surpluses?
Why should you care about your country's budget deficit and be worried about it? The same way, why should you celebrate if you found out about your country's budget surplus, however unlikely that might be?
In one minute, I've defined, explained as well as compared budget surpluses as well as budget deficits so as to help you answer these questions and (hopefully) more.
To support the channel, give me a minute (see what I did there?) of your time by visiting OneMinuteEconomics.com and...
published: 03 Jan 2019
USA: PRESIDENT CLINTON BUDGET SURPLUS SPEECH
(30 Sep 1998) English/Nat
Both President Bill Clinton and congressional Republicans are claiming credit for the first U-S budget surplus since 1969.
Now, they have to figure out what to do with the extra 70 (b) billion U-S dollars.
Both sides say they want to save the pension for the elderly, known as Social Security.
The U-S is celebrating the end of three decades of red ink.
On Wednesday President Bill Clinton unveiled an electronic display ticking off the extra cash flowing into federal coffers.
The White House estimates that when all the cash is counted, the surplus for the fiscal year ending Wednesday night, will be in the tens of (b) billions of dollars.
SOUNDBITE: (English)
"Tonight at midnight, America puts an end to three decades of deficits and launches a ...
(Filmed circa 2001.) Milton Friedman discusses what should be done with the federal budget surplus? Does it make sense to spend the surplus on new government pr...
(Filmed circa 2001.) Milton Friedman discusses what should be done with the federal budget surplus? Does it make sense to spend the surplus on new government programs? What benefits the economy more, cutting taxes or paying down the national debt? Nobel Prize-winning economist Milton Friedman offers his advice.
(Filmed circa 2001.) Milton Friedman discusses what should be done with the federal budget surplus? Does it make sense to spend the surplus on new government programs? What benefits the economy more, cutting taxes or paying down the national debt? Nobel Prize-winning economist Milton Friedman offers his advice.
What's a trade deficit? It's when the amount you spend on purchases is greater than the amount you make from selling your own stuff. Sound familiar? #Marketplac...
What's a trade deficit? It's when the amount you spend on purchases is greater than the amount you make from selling your own stuff. Sound familiar? #MarketplaceAPM #EconomicExplainers
Subscribe to our channel!
https://youtube.com/user/marketplacevideos
What's a trade deficit? It's when the amount you spend on purchases is greater than the amount you make from selling your own stuff. Sound familiar? #MarketplaceAPM #EconomicExplainers
Subscribe to our channel!
https://youtube.com/user/marketplacevideos
We find out what a budget surplus is, why it’s so sought-after, and whether not this government actually has its hands on one.
TEACHER RESOURCES
Students will ...
We find out what a budget surplus is, why it’s so sought-after, and whether not this government actually has its hands on one.
TEACHER RESOURCES
Students will develop their knowledge of budgets, financial decisions and the implications of these decisions. Business and Economics - Years 5 & 7
http://www.abc.net.au/cm/lb/10981512/data/budget-surplus---teacher-resource-%28pdf%29-data.pdf
BTN STORY PAGE
http://www.abc.net.au/btn/classroom/budget-surplus/10970678
RELATED BTN STORY
http://www.abc.net.au/btn/classroom/budget-surplus/10528430
http://www.abc.net.au/btn/classroom/budget-surplus/10532688
__
For the past 50 years, Behind the News has been helping to break down current issues and events for young people all around the world. The program is a high-energy, fun way for people to learn about the stories we see in the news, while providing background information that isn’t usually given by other news bulletins.
We have over 1000 stories on all sorts of topics - everything from politics & volcanoes, to online security & fortnite. If you're looking for help to understand something, you'll probably find it on BTN.
Make sure to like & subscribe our videos if you want to stay in the know!
http://www.abc.net.au/btn/
Follow us on Social Media:
Facebook: https://www.facebook.com/abcbtn
Instagram: https://www.instagram.com/behindthenews/
Twitter: https://twitter.com/behindthenews
We find out what a budget surplus is, why it’s so sought-after, and whether not this government actually has its hands on one.
TEACHER RESOURCES
Students will develop their knowledge of budgets, financial decisions and the implications of these decisions. Business and Economics - Years 5 & 7
http://www.abc.net.au/cm/lb/10981512/data/budget-surplus---teacher-resource-%28pdf%29-data.pdf
BTN STORY PAGE
http://www.abc.net.au/btn/classroom/budget-surplus/10970678
RELATED BTN STORY
http://www.abc.net.au/btn/classroom/budget-surplus/10528430
http://www.abc.net.au/btn/classroom/budget-surplus/10532688
__
For the past 50 years, Behind the News has been helping to break down current issues and events for young people all around the world. The program is a high-energy, fun way for people to learn about the stories we see in the news, while providing background information that isn’t usually given by other news bulletins.
We have over 1000 stories on all sorts of topics - everything from politics & volcanoes, to online security & fortnite. If you're looking for help to understand something, you'll probably find it on BTN.
Make sure to like & subscribe our videos if you want to stay in the know!
http://www.abc.net.au/btn/
Follow us on Social Media:
Facebook: https://www.facebook.com/abcbtn
Instagram: https://www.instagram.com/behindthenews/
Twitter: https://twitter.com/behindthenews
If you follow financial news media at least occasionally, you'll hear about budget deficits and budget surpluses all the time.
Frankly, it's fairly unlikely to...
If you follow financial news media at least occasionally, you'll hear about budget deficits and budget surpluses all the time.
Frankly, it's fairly unlikely to listen to an economic news bulletin and not come across budget deficits and/or surpluses at least once.
But what are these deficits and surpluses?
Why should you care about your country's budget deficit and be worried about it? The same way, why should you celebrate if you found out about your country's budget surplus, however unlikely that might be?
In one minute, I've defined, explained as well as compared budget surpluses as well as budget deficits so as to help you answer these questions and (hopefully) more.
To support the channel, give me a minute (see what I did there?) of your time by visiting OneMinuteEconomics.com and reading my message.
Bitcoin donations can be sent to 1AFYgM8Cmiiu5HjcXaP5aS1fEBJ5n3VDck and PayPal donations to [email protected], any and all support is greatly appreciated!
Oh and I've also started playing around with Patreon, my link is:
https://www.patreon.com/oneminuteeconomics
Interested in reading a good book?
My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we're talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below:
Amazon - https://www.amazon.com/Wealth-Management-2-0-Financial-Professionals-ebook/dp/B01I1WA2BK
Barnes & Noble - http://www.barnesandnoble.com/w/wealth-management-20-andrei-polgar/1124435282?ean=2940153328942
iBooks (Apple) - https://itun.es/us/wYSveb.l
Kobo - https://store.kobobooks.com/en-us/ebook/wealth-management-2-0
My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below.
Amazon - https://www.amazon.com/Age-Anomaly-Spotting-Financial-Uncertainty-ebook/dp/B078SYL5YS
Barnes & Noble - https://www.barnesandnoble.com/w/the-age-of-anomaly-andrei-polgar/1127084693?ean=2940155383970
iBooks (Apple) - https://itunes.apple.com/us/book/age-anomaly-spotting-financial-storms-in-sea-uncertainty/id1331704265
Kobo - https://www.kobo.com/ww/en/ebook/the-age-of-anomaly-spotting-financial-storms-in-a-sea-of-uncertainty
Last but not least, if you'd like to follow me on social media, use one of the links below:
https://www.facebook.com/oneminuteeconomics
https://twitter.com/andreipolgar
https://ro.linkedin.com/in/andrei-polgar-9a11a561
If you follow financial news media at least occasionally, you'll hear about budget deficits and budget surpluses all the time.
Frankly, it's fairly unlikely to listen to an economic news bulletin and not come across budget deficits and/or surpluses at least once.
But what are these deficits and surpluses?
Why should you care about your country's budget deficit and be worried about it? The same way, why should you celebrate if you found out about your country's budget surplus, however unlikely that might be?
In one minute, I've defined, explained as well as compared budget surpluses as well as budget deficits so as to help you answer these questions and (hopefully) more.
To support the channel, give me a minute (see what I did there?) of your time by visiting OneMinuteEconomics.com and reading my message.
Bitcoin donations can be sent to 1AFYgM8Cmiiu5HjcXaP5aS1fEBJ5n3VDck and PayPal donations to [email protected], any and all support is greatly appreciated!
Oh and I've also started playing around with Patreon, my link is:
https://www.patreon.com/oneminuteeconomics
Interested in reading a good book?
My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we're talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below:
Amazon - https://www.amazon.com/Wealth-Management-2-0-Financial-Professionals-ebook/dp/B01I1WA2BK
Barnes & Noble - http://www.barnesandnoble.com/w/wealth-management-20-andrei-polgar/1124435282?ean=2940153328942
iBooks (Apple) - https://itun.es/us/wYSveb.l
Kobo - https://store.kobobooks.com/en-us/ebook/wealth-management-2-0
My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below.
Amazon - https://www.amazon.com/Age-Anomaly-Spotting-Financial-Uncertainty-ebook/dp/B078SYL5YS
Barnes & Noble - https://www.barnesandnoble.com/w/the-age-of-anomaly-andrei-polgar/1127084693?ean=2940155383970
iBooks (Apple) - https://itunes.apple.com/us/book/age-anomaly-spotting-financial-storms-in-sea-uncertainty/id1331704265
Kobo - https://www.kobo.com/ww/en/ebook/the-age-of-anomaly-spotting-financial-storms-in-a-sea-of-uncertainty
Last but not least, if you'd like to follow me on social media, use one of the links below:
https://www.facebook.com/oneminuteeconomics
https://twitter.com/andreipolgar
https://ro.linkedin.com/in/andrei-polgar-9a11a561
(30 Sep 1998) English/Nat
Both President Bill Clinton and congressional Republicans are claiming credit for the first U-S budget surplus since 1969.
Now,...
(30 Sep 1998) English/Nat
Both President Bill Clinton and congressional Republicans are claiming credit for the first U-S budget surplus since 1969.
Now, they have to figure out what to do with the extra 70 (b) billion U-S dollars.
Both sides say they want to save the pension for the elderly, known as Social Security.
The U-S is celebrating the end of three decades of red ink.
On Wednesday President Bill Clinton unveiled an electronic display ticking off the extra cash flowing into federal coffers.
The White House estimates that when all the cash is counted, the surplus for the fiscal year ending Wednesday night, will be in the tens of (b) billions of dollars.
SOUNDBITE: (English)
"Tonight at midnight, America puts an end to three decades of deficits and launches a new era of balanced budgets and surpluses. While the numbers will not be official until the end of the month, we expect the 1998 surplus to be about 70 (b) billion dollars (U-S). "
SUPER CAPTION: Bill Clinton, President of the United States
The President said the payoff was a result of touch choices and fiscal discipline.
But the need for discipline is far from over.
Clinton said the government must resist the temptation to spend the extra cash on tax cuts.
Saving the financial safety net for the elderly, Social Security, must come first.
SOUNDBITE: (English)
"And if we squander this surplus and start spending a little here, a little there, a little yonder on the tax cuts, just because we are a few weeks before an election, before we do this, what are we going to do when times get tough and we still have to take care of it?"
SUPER CAPTION: Bill Clinton, President of the United States
The President however, wasn't the only one claiming credit for the turn around.
Republicans had their own surplus sign, and their own way of looking at things.
Senate Budget Committee chairman Pete Domenici says the credit belongs to the American people, the Federal Reserve Board and Congress -- as well as the White House.
SOUNDBITE: (English)
"I believe it's very, very important that the American people know that we (Congress) forced some changes around here that really brought us to where we are. And, I have to say, led by the Republican Congress we entered into an agreement with this president and he should share part of that credit. Clearly, we deserve our share. Without that, nothing would have happened."
SUPER CAPTION: Senator Pete Domenici, Republican, Chairman of Senate Budget Committee
Now, the battle is on over what to do with some of the surplus.
Some Republicans are proposing a tax cut, while President Clinton is asking for spending increases.
Republican Senator Phil Gramm, says both of those options would take money away from social security coffers.
SOUNDBITE: (English)
"I don't see how the president with a straight face can say, 'Don't spend the social security surplus by giving tax cuts', and then turn around and support spending 20 (b) billion dollars of it on government programmes. It seems to me that if you want to save social security, and use the surplus for that purpose, you've got to oppose both the tax cuts and the spending increases. And the president has changed his position."
SUPER CAPTION: Senator Phil Gramm, Republican, Texas
The surplus announced on Wednesday is an estimate - it won't be final until mid-October.
Whatever the final tally, it'll be the government's first black ink in almost 30 years, providing a political boost to both parties in upcoming Congressional elections.
Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Twitter: https://twitter.com/AP_Archive
Facebook: https://www.facebook.com/APArchives
Instagram: https://www.instagram.com/APNews/
You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/2908d49cf71749e120e649d0509ad868
(30 Sep 1998) English/Nat
Both President Bill Clinton and congressional Republicans are claiming credit for the first U-S budget surplus since 1969.
Now, they have to figure out what to do with the extra 70 (b) billion U-S dollars.
Both sides say they want to save the pension for the elderly, known as Social Security.
The U-S is celebrating the end of three decades of red ink.
On Wednesday President Bill Clinton unveiled an electronic display ticking off the extra cash flowing into federal coffers.
The White House estimates that when all the cash is counted, the surplus for the fiscal year ending Wednesday night, will be in the tens of (b) billions of dollars.
SOUNDBITE: (English)
"Tonight at midnight, America puts an end to three decades of deficits and launches a new era of balanced budgets and surpluses. While the numbers will not be official until the end of the month, we expect the 1998 surplus to be about 70 (b) billion dollars (U-S). "
SUPER CAPTION: Bill Clinton, President of the United States
The President said the payoff was a result of touch choices and fiscal discipline.
But the need for discipline is far from over.
Clinton said the government must resist the temptation to spend the extra cash on tax cuts.
Saving the financial safety net for the elderly, Social Security, must come first.
SOUNDBITE: (English)
"And if we squander this surplus and start spending a little here, a little there, a little yonder on the tax cuts, just because we are a few weeks before an election, before we do this, what are we going to do when times get tough and we still have to take care of it?"
SUPER CAPTION: Bill Clinton, President of the United States
The President however, wasn't the only one claiming credit for the turn around.
Republicans had their own surplus sign, and their own way of looking at things.
Senate Budget Committee chairman Pete Domenici says the credit belongs to the American people, the Federal Reserve Board and Congress -- as well as the White House.
SOUNDBITE: (English)
"I believe it's very, very important that the American people know that we (Congress) forced some changes around here that really brought us to where we are. And, I have to say, led by the Republican Congress we entered into an agreement with this president and he should share part of that credit. Clearly, we deserve our share. Without that, nothing would have happened."
SUPER CAPTION: Senator Pete Domenici, Republican, Chairman of Senate Budget Committee
Now, the battle is on over what to do with some of the surplus.
Some Republicans are proposing a tax cut, while President Clinton is asking for spending increases.
Republican Senator Phil Gramm, says both of those options would take money away from social security coffers.
SOUNDBITE: (English)
"I don't see how the president with a straight face can say, 'Don't spend the social security surplus by giving tax cuts', and then turn around and support spending 20 (b) billion dollars of it on government programmes. It seems to me that if you want to save social security, and use the surplus for that purpose, you've got to oppose both the tax cuts and the spending increases. And the president has changed his position."
SUPER CAPTION: Senator Phil Gramm, Republican, Texas
The surplus announced on Wednesday is an estimate - it won't be final until mid-October.
Whatever the final tally, it'll be the government's first black ink in almost 30 years, providing a political boost to both parties in upcoming Congressional elections.
Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Twitter: https://twitter.com/AP_Archive
Facebook: https://www.facebook.com/APArchives
Instagram: https://www.instagram.com/APNews/
You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/2908d49cf71749e120e649d0509ad868
(Filmed circa 2001.) Milton Friedman discusses what should be done with the federal budget surplus? Does it make sense to spend the surplus on new government programs? What benefits the economy more, cutting taxes or paying down the national debt? Nobel Prize-winning economist Milton Friedman offers his advice.
What's a trade deficit? It's when the amount you spend on purchases is greater than the amount you make from selling your own stuff. Sound familiar? #MarketplaceAPM #EconomicExplainers
Subscribe to our channel!
https://youtube.com/user/marketplacevideos
We find out what a budget surplus is, why it’s so sought-after, and whether not this government actually has its hands on one.
TEACHER RESOURCES
Students will develop their knowledge of budgets, financial decisions and the implications of these decisions. Business and Economics - Years 5 & 7
http://www.abc.net.au/cm/lb/10981512/data/budget-surplus---teacher-resource-%28pdf%29-data.pdf
BTN STORY PAGE
http://www.abc.net.au/btn/classroom/budget-surplus/10970678
RELATED BTN STORY
http://www.abc.net.au/btn/classroom/budget-surplus/10528430
http://www.abc.net.au/btn/classroom/budget-surplus/10532688
__
For the past 50 years, Behind the News has been helping to break down current issues and events for young people all around the world. The program is a high-energy, fun way for people to learn about the stories we see in the news, while providing background information that isn’t usually given by other news bulletins.
We have over 1000 stories on all sorts of topics - everything from politics & volcanoes, to online security & fortnite. If you're looking for help to understand something, you'll probably find it on BTN.
Make sure to like & subscribe our videos if you want to stay in the know!
http://www.abc.net.au/btn/
Follow us on Social Media:
Facebook: https://www.facebook.com/abcbtn
Instagram: https://www.instagram.com/behindthenews/
Twitter: https://twitter.com/behindthenews
If you follow financial news media at least occasionally, you'll hear about budget deficits and budget surpluses all the time.
Frankly, it's fairly unlikely to listen to an economic news bulletin and not come across budget deficits and/or surpluses at least once.
But what are these deficits and surpluses?
Why should you care about your country's budget deficit and be worried about it? The same way, why should you celebrate if you found out about your country's budget surplus, however unlikely that might be?
In one minute, I've defined, explained as well as compared budget surpluses as well as budget deficits so as to help you answer these questions and (hopefully) more.
To support the channel, give me a minute (see what I did there?) of your time by visiting OneMinuteEconomics.com and reading my message.
Bitcoin donations can be sent to 1AFYgM8Cmiiu5HjcXaP5aS1fEBJ5n3VDck and PayPal donations to [email protected], any and all support is greatly appreciated!
Oh and I've also started playing around with Patreon, my link is:
https://www.patreon.com/oneminuteeconomics
Interested in reading a good book?
My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we're talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below:
Amazon - https://www.amazon.com/Wealth-Management-2-0-Financial-Professionals-ebook/dp/B01I1WA2BK
Barnes & Noble - http://www.barnesandnoble.com/w/wealth-management-20-andrei-polgar/1124435282?ean=2940153328942
iBooks (Apple) - https://itun.es/us/wYSveb.l
Kobo - https://store.kobobooks.com/en-us/ebook/wealth-management-2-0
My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below.
Amazon - https://www.amazon.com/Age-Anomaly-Spotting-Financial-Uncertainty-ebook/dp/B078SYL5YS
Barnes & Noble - https://www.barnesandnoble.com/w/the-age-of-anomaly-andrei-polgar/1127084693?ean=2940155383970
iBooks (Apple) - https://itunes.apple.com/us/book/age-anomaly-spotting-financial-storms-in-sea-uncertainty/id1331704265
Kobo - https://www.kobo.com/ww/en/ebook/the-age-of-anomaly-spotting-financial-storms-in-a-sea-of-uncertainty
Last but not least, if you'd like to follow me on social media, use one of the links below:
https://www.facebook.com/oneminuteeconomics
https://twitter.com/andreipolgar
https://ro.linkedin.com/in/andrei-polgar-9a11a561
(30 Sep 1998) English/Nat
Both President Bill Clinton and congressional Republicans are claiming credit for the first U-S budget surplus since 1969.
Now, they have to figure out what to do with the extra 70 (b) billion U-S dollars.
Both sides say they want to save the pension for the elderly, known as Social Security.
The U-S is celebrating the end of three decades of red ink.
On Wednesday President Bill Clinton unveiled an electronic display ticking off the extra cash flowing into federal coffers.
The White House estimates that when all the cash is counted, the surplus for the fiscal year ending Wednesday night, will be in the tens of (b) billions of dollars.
SOUNDBITE: (English)
"Tonight at midnight, America puts an end to three decades of deficits and launches a new era of balanced budgets and surpluses. While the numbers will not be official until the end of the month, we expect the 1998 surplus to be about 70 (b) billion dollars (U-S). "
SUPER CAPTION: Bill Clinton, President of the United States
The President said the payoff was a result of touch choices and fiscal discipline.
But the need for discipline is far from over.
Clinton said the government must resist the temptation to spend the extra cash on tax cuts.
Saving the financial safety net for the elderly, Social Security, must come first.
SOUNDBITE: (English)
"And if we squander this surplus and start spending a little here, a little there, a little yonder on the tax cuts, just because we are a few weeks before an election, before we do this, what are we going to do when times get tough and we still have to take care of it?"
SUPER CAPTION: Bill Clinton, President of the United States
The President however, wasn't the only one claiming credit for the turn around.
Republicans had their own surplus sign, and their own way of looking at things.
Senate Budget Committee chairman Pete Domenici says the credit belongs to the American people, the Federal Reserve Board and Congress -- as well as the White House.
SOUNDBITE: (English)
"I believe it's very, very important that the American people know that we (Congress) forced some changes around here that really brought us to where we are. And, I have to say, led by the Republican Congress we entered into an agreement with this president and he should share part of that credit. Clearly, we deserve our share. Without that, nothing would have happened."
SUPER CAPTION: Senator Pete Domenici, Republican, Chairman of Senate Budget Committee
Now, the battle is on over what to do with some of the surplus.
Some Republicans are proposing a tax cut, while President Clinton is asking for spending increases.
Republican Senator Phil Gramm, says both of those options would take money away from social security coffers.
SOUNDBITE: (English)
"I don't see how the president with a straight face can say, 'Don't spend the social security surplus by giving tax cuts', and then turn around and support spending 20 (b) billion dollars of it on government programmes. It seems to me that if you want to save social security, and use the surplus for that purpose, you've got to oppose both the tax cuts and the spending increases. And the president has changed his position."
SUPER CAPTION: Senator Phil Gramm, Republican, Texas
The surplus announced on Wednesday is an estimate - it won't be final until mid-October.
Whatever the final tally, it'll be the government's first black ink in almost 30 years, providing a political boost to both parties in upcoming Congressional elections.
Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Twitter: https://twitter.com/AP_Archive
Facebook: https://www.facebook.com/APArchives
Instagram: https://www.instagram.com/APNews/
You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/2908d49cf71749e120e649d0509ad868
A balanced budget (particularly that of a government) refers to a budget in which revenues are equal to expenditures. Thus, neither a budget deficit nor a budget surplus exists ("the accounts balance"). More generally, it refers to a budget that has no budget deficit, but could possibly have a budget surplus. A cyclically balanced budget is a budget that is not necessarily balanced year-to-year, but is balanced over the economic cycle, running a surplus in boom years and running a deficit in lean years, with these offsetting over time.
Balanced budgets and the associated topic of budget deficits are a contentious point within academic economics and within politics. The mainstream economic view is that having a balanced budget in every year is not desirable, with budget deficits in lean times being desirable. Most economists have also agreed that a balanced budget would decrease interest rates, increase savings and investment, shrink trade deficits and help the economy grow faster in the longer term.
However, the change in taxation will have a significant impact on the state’s budget ... Those funds include $3.75 billion now in the Taxpayer Relief Fund, as well as the state’s $2 billion budget surplus and $961 million in reserve accounts.
E-bikes. What to know about unique way to get around ...Laurel Thrailkill, Wochit ... Omar Fateh, DFL-Minneapolis ... And, the state’s budget forecast shows a rapid decline in surplus, quickly becoming a deficit in the billions in future budget years.
The government could pay €700m in support measures and still have a budget surplus because the economy was on a healthy growth path, and tax revenue was high. This is what governments should emphasise ... ....
How do I know the current CAVE people in Congress aren’t effective? We’re spending 14% of our federal budget on net interest payments, and Congress hasn’t run an annual surplus since 2001... budget.”.
John C ... "I believeI've done my part," he said ... A budget deficit pegged at $9.2 million swung to an anticipated $35 million surplus at the end of last fiscal year. It was the first surplus in more than 20 years, a city document shows ... Zaragoza ...
By Charles Sercombe ...MayorAmerGhalib said the city has a budget surplus that can absorb the hit for the next several years — although there is a deep-dive financial audit underway to determine exactly where the city’s finances currently stand.
MOSCOW — Programming at the University of Idaho will not be significantly affected by a $500,000 budget cut passed down by the legislature, thanks in part to a surplus expected at the end of the year, UI PresidentScott Green said.
Kiler said the decision to use surplus money to balance the county’s current $545 million operating budget will create financial hardship for next year’s budget ... budget in fiscal 2024.
The 2025 budget forecasts a deficit of RO620mn, equivalent to 5.5% of estimated revenue ... 2024 budget surplus at RO540mn. Preliminary results for the 2024 budget indicate a surplus of RO540mn, reversing the previously projected deficit of RO640mn.
government had a budget surplus was in 2001. However, even that was sleight of hand, given that the Social Security surplus was counted as part of the federal budget.
Ned Lamont last renewed an aggressive package of fiscal controls that generated billions in state budget surpluses, critics decried a process kept mostly behind closed doors ... of big budget surpluses.
Those who are looking for Musk to emulate the strategy of Argentine PresidentJavier Milei, who has slashed entire government departments on his quest to deliver his nation's first budget surplus in a dozen years, should temper expectations.
The Democratic governor is preparing to unveil a two-year budget proposal in January ...Maine ended the 2024 fiscal year with a $93.5 million state budget surplus and an almost maxed-out rainy day fund of more than $900 million.
State lawmakers have continued to cut funding for an awareness campaign that would inform mothers what to do when they decide they can't keep their baby, the WaPo said, despite enjoying a budget surplus well over $30 billion ... More on abortion ... ....
Baltimore Sun
02 Jan 2025
Baltimore Sun
02 Jan 2025