Balanced Budget

  

No budget deficits. The term is often used in reference to official government budgets, and means that the institution's revenues are either equal to or more than its expenses. Given that we're talking about the government, this is accomplished pretty rarely.

It can also be used in reference to the future, predicted revenues, and expenditures of an institution's operating budget. So, if the Social Security Administration ever manages to spend less/allocate less to expenditures than the amount of money it brings in through taxes and other revenue streams, it will have finally managed to achieve a balanced budget.

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