what is a balanced budget 
a balanced budget is a situation in financial planning or the budgeting process where total expected revenues are equal to total planned spending this term is most frequently applied to public sector or government budgeting a budget can also be considered balanced in hindsight after a full year s worth of revenues and expenses have been incurred and recorded understanding a balanced budgetthe phrase balanced budget is commonly used in reference to official government budgets for example governments may issue a press release stating that they have a balanced budget for the upcoming fiscal year or politicians may campaign on a promise to balance the budget once in office 