According to A Citizen's Guide to the Federal Budget, a budget surplus is defined as "an amount by which revenues exceed outlays." Paraphrase this definition and explain how it results in a surplus.
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The budget surplus is the term that is used for finance overlay. In simple words, the total revenue earned in a total federal budget is more than the overlay that is invested or assumed amount.
This is mainly in terms of the 1969 surplus that later on soared after around 11 years in 1980.
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sorry I didn't not know about it
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