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Federal deficit (surplus)

When federal government expenditures are exceeded by (are less than) federal government revenue.


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.


1. Equity in excess of par value. Surplus includes additional paid-in capital and retained earnings.
References in periodicals archive ?
In his congressional testimony on January 25, Greenspan surprised Wall Street observers by declaring that in light of upward revised Federal surplus estimates to a hefty $5.
Veterans groups interested in the Federal Surplus Property program can access the interim guidelines and application for participation online.
The Bush administration's determination to dedicate 25 percent of the anticipated $5 trillion federal surplus to across the board tax cuts, and the rest to debt reduction and shoring up Social Security could leave little for investment in the future of local communities.
Yet despite a projected federal surplus of $2 trillion over the next 10 years, President Clinton is reluctant to put much tax money back into the hands of the people who earned it.
Obtained in 1961 through the federal surplus properties program it was once the busiest airport in the nation, but activity has decreased as land has been given to developers for non-aviation use at the expense of existing and minority aviation businesses, says BMI Salvage's Stephen O'Neal, a 21-year airport tenant.
The president has threatened to veto the bill, saying that the government has more important priorities for the growing federal surplus than cutting taxes.
28 -- Federal surplus property, including office furniture and equipment, clothing, paint, building materials, vehicle parts, shop and trade equipment and camping supplies; - Tuesday, Aug.
According to Boehlert, the caucus will target -- at least initially -- the growing federal surplus as a potential source of investment.
Our recorded federal surplus of $70 billion for the year just passed an estimated surplus of $76 billion for fiscal year 1999 and projected $2 trillion surplus over the next decade, make the needed expenditures appear trivial.
5 billion cost by tapping into the anticipated federal surplus.
26 /PRNewswire/ -- HHS Deputy Secretary Alex Azar today announced that local governments and community groups will soon be able to use federal surplus property for permanent, supportive housing.
To spend beyond those limits means using the federal surplus, and that would mean spending Social Security surpluses Republicans have promised not to spend or leaving less money available to pay for the tax cut.

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