What is a budget surplus?

Question

What is a budget surplus?

Answer 1

If you make $100, and after paying your bills...you are still left with $20. You have a surplus of $20.

So in the case of Iraq having a surplus of money, it means that after spending the money on everything, they have the rest of the money left over.

Answer 2

Simply stated, a budget surplus exists when more money is taken in than paid out.