After years of record California budget surpluses, Gov. Newsom outlined a plan to deal with a deficit he projects at $22.5 billion and said he can keep his big promises despite the shortfalls.

Source: https://www.sanjoseinside.com/news/mahans-new-community-city-committees-aim-to-build-support-for-budget-plans/

Although the state has been running multi-billion dollar surpluses in each of the last two years, the Governor’s Office of Management and Budget has that state finances could start running deficits as soon as Fiscal Year 2025.

Source: https://chronicleillinois.com/government/push-begins-for-state-child-tax-credit-for-low-and-middle-income-families/

But while Gov. Mills is busy patting herself on the back and claiming that surpluses and rainy day savings are the result of her brilliant fiscal management, remember that she and her administration have had little to do with it.

Source: https://www.bangordailynews.com/2023/08/23/opinion/opinion-contributor/maines-growing-budget-surplus-high-taxes-inflation/

By comparison, the state ran up $6.1 billion in surpluses between 2000 and 2009, according to nonpartisan analysts.

Source: https://ctmirror.org/2023/02/08/ct-gov-lamont-propose-50-5-billion-budget-with-more-than-500-m-in-tax-relief/

Connecticut has racked up $9 billion in budget surpluses since it launched an aggressive new program in 2017 and 2018 that forced government to save a hefty portion of quarterly income and business tax receipts.

Source: https://ctmirror.org/2023/04/17/spending-cap-expected-to-force-ct-panel-to-endorse-lean-budget/

Food waste and agricultural surpluses have environmental and social impacts, beyond food just going in the garbage.

Source: https://mashable.com/article/how-to-join-the-food-rescue-movement

Haugen suggested the request could be granted from the council contingency account, which would place that account over budget, but which could also be righted when other department surpluses come in.’

Source: https://ecareview.com/kneehill-county-grants-10k-to-fix-huxley-hall-roofs/

Now the surpluses are getting auctioned off for a mere $500,000, about cents for every buck spent.

Source: https://nypost.com/2023/02/22/de-blasios-224-5-million-in-covid-waste-screams-out-for-a-probe/

The country is on track to achieve one of the only surpluses in any eurozone member this year and next, driving competing calls on Minister for Finance Michael McGrath and Minister for Public Expenditure Paschal Donohoe to spend big.

Source: https://www.irishexaminer.com/business/economy/arid-41243371.html

The movement of money out of China has roughly matched the money brought in by the country’s large trade surpluses.

Source: https://indianexpress.com/article/world/gold-bars-and-tokyo-apartments-how-money-is-flowing-out-of-china-9045391/

We were in the fourth fiscal year of federal budget surpluses.

Source: https://www.twincities.com/2023/01/22/real-world-economics-debt-as-theater-is-fantasy-and-tragedy/