surplus

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Federal deficit (surplus)

When federal government expenditures are exceeded by (are less than) federal government revenue.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Surplus

The amount by which the revenue of a government from taxes, tariffs and other sources exceeds its expenditures. A surplus means that the budget is likely healthy, at least in the short-term, and in any case the government does not have to resort to borrowing. Some economists believe that a budget surplus or deficit has only minor importance, while others believe that it is very important to maintain a surplus if at all possible. Most U.S. states are required to maintain either a surplus or a balanced budget, while the federal government is not. See also: Federal deficit.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

surplus

1. Equity in excess of par value. Surplus includes additional paid-in capital and retained earnings.
2. See retained earnings.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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Higher effective taxes and lower discretionary outlays have led to a surge in federal surpluses. The Congressional Budget Office's January 2001 projections place the 10-year (2002-2011) cumulative surplus at $5.6 trillion.
Fiscal Policy in an Era of Surpluses
That is a lesson worth remembering as we contemplate how we might exploit projected federal surpluses as far as the eye can see.
Fiscal Policy and Fickle Fortunes: What's Luck Got to Do With It?
Rather, the President called for setting aside nearly 90 percent of projected federal surpluses for Social Security, Medicare, and a new savings incentive program.
The Clinton Budget--What's In It For Cities?
Bush asserts that the cost of his tax cut will be covered by federal surpluses separate from the Social Security surplus.
Bush's Tax Flim-Flam
According to this proposal, the nation would allocate 62 percent of prospective federal surpluses to paying the Social Security benefits promised under current law.
Fixing Social Security: is the surplus the solution?
"President Clinton's 2000 budget plan represents both a glorious dilemma and a major contradiction," Senate Budget Committee Chairman Pete Domenici (R-N.M.) said, promising the first back-to-back federal surpluses in 30 years and promising surpluses "as far as the eye can see."
The Great Divide: GOP Favors Tax Cuts Over New Spending

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