what is the difference between a budget deficit a balanced budget and a budget surplus
Government budget balance A government budget is a financial statement presenting the government's proposed revenues and spending for a financial year. The government budget balance, also alternatively referred to as general government balance,[1] public budget balance, or public fiscal balance, is the overall difference between government revenues and spending. A positive balance is called a government budget surplus, and a negative balance is a government budget deficit. A budget is prepared for each level of government (from national to local) and takes into account public social security obligations.
Balance of trade If a country exports a greater value than it imports, it has a trade surplus, positive balance, or a "favourable balance", and conversely, if a country imports a greater value than it exports, it has a trade deficit, negative balance, "unfavorable balance", or, informally, a "trade gap". A positive balance adds to gross domestic product, while a negative balance subtracts from GDP.[2]
United States Balance of trade The US last had a trade surplus in 1975.[14] However, recessions may cause short-run anomalies to rising trade deficits.
United States Balance of trade The US last had a trade surplus in 1975.[17] However, recessions may cause short-run anomalies to rising trade deficits.