Suffolk County ended 1999 with a budget surplus estimated at $44 million, while Nassau County managed to break even only by selling its hospital and using its share of the national settlement with tobacco companies, which many other governments plan to spend on health programs.
It saves much more than it invests, resulting in a vast current-account surplus, estimated at 8% of GDP last year.
That is 4.2% of GDP, less than the 6% reached under Ronald Reagan, and the figure will eventually fall as the economy recovers, but there will be no return to surplus.How could a surplus, estimated in 2001 at $5.6 trillion over the next ten years, vanish so quickly?
The legislators say the state's budget surplus, estimated at $848 million, would easily cover the $120 million in uncollected revenue.
But by highlighting it in his first budget, Mr. Bush is starting a new chapter in the debate over how the nation can best use the projected federal budget surplus, estimated at $5.6 trillion over the next decade.
They argue that China's massive current-account surplus (estimated at 11% of GDP in 2007) proves that it produces far more than it consumes and relies on foreign demand to buy the excess.
The surplus, estimated last year at $5.6 trillion for the 10 years from 2002 through 2011, is now forecast to be $336 billion for the same period and $1 trillion for the decade starting next year.
American taxpayers are paying more each year into the budget than the American government needs; and therefore simple justice requires that this surplus, estimated by the Congressional Budget Office at around $3 trillion over the next decade, be returned to the taxpayers to spend as they see fit.
Rice surplus is estimated at 4.7 million tons in 2012, most of which was exported unprocessed and unrecorded given weak capacity and financing in rice milling (World Bank 2013).
Then, by summing up these figures and applying the evaluation criteria in Table 4, the present value of change in consumer surplus is estimated at 1.763 billion JP¥.
