Balanced budget

financial plan in which income is equal to spending

From a Keynesian point of view, a balanced budget in the public sector is achieved when the government has enough fiscal discipline to be able to equate the revenues with expenditure over the business cycles. In other words, a government's budget is balanced if its income is equal to its expenditure. This allows for a deficit in periods of low economic prospects that however needs to be matched by a surplus in periods of high economic activity.
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Noun
1. a budget is balanced when current expenditures are equal to receipts
(hypernym) budget

A budget in which the income equals expenditure. See: budget.

Balanced budget
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