The rainy-day funds and one-shot revenue wonders, like the $3 billion surplus used to help balance last year's budget, are gone.
After all, even with diminishing returns the marginal product of capital is surely always positive; and one can always run a trade surplus, using the proceeds to buy foreign assets with a positive real return.
China found it useful to run a large trade surplus, using a very high rate of internal savings and inward foreign investment to support its industrialisation and rapid growth.
The economies of America and Britain have boomed, while those of Japan and the euro area have stalled, yet in all of them firms are now running a financial surplus, using their spare money to repay debts, buy back shares or build up cash.
As a first step, this paper examines the factors that differ between those PCTs in financial deficit and those in surplus, using PCT level data from various sources.
This paper examines the factors that differ between those Primary Care Trusts (PCT) in financial deficit and those in surplus, using readily available data at PCT level.
Frequent engagements to perform at official celebrations, graduation feasts, weddings and other celebrations around Kampala produce a surplus income used to help pay the school and university fees of many of its members, buy medicines for their sick relatives and food for the poorest.
Take away the ever-larger Social Security surpluses used in each of those years, however, and the on-budget deficit will stand at $464 billion in 2008.
The sustainable alternative would be to store energy generated at times when renewables provide a surplus, and use it when they fall short.
Jeffrey L. Sommer, the acting executive director of the control board, said in an interview that even though the mayor's proposed budget for next year was balanced, he should start "building up a surplus to use in 2006, because that is the troubled year".
Developed to achieve economy of scale, CAFOs were made possible in part by government subsidies that kept corn prices low and created a surplus that was used to feed animals.
