How is this even possible? How do you have a SURPLUS when we’re nearly 20 TRILLION in DEBT?
It’s like refinancing a mortgage to bring down your payments.
It’s not a good sign.
How do you have a surplus when over the past five years the total budget has increased by 30% and the GDP is growing at less than 2% per year?
That’s an EASY one.
The difference is the same as that between a stock
and a flow.
How can you have water flowing into a tub at the rate of 2 gals per minute,while the tub holds 50 gals?
If you understand your bathtub, then you can understand the difference between defict/surplus and debt.
Key difference - deficit is not the same thing as debt.
The answer was in JIMT's response.
It's a BUDGET SURPLUS. That means they budgeted to spend xx amount, but didn't spend it all(yet). It has nothing to do with the DEBT.