Government budget balance

Government budget balance is like a family budget. A family has to make sure they have enough money coming in each month to cover all the things they need to pay for like rent or groceries. The government budget is like a giant family budget and it makes sure there is enough money for the government to do all the things it needs to do, like pay for schools, roads, or hospitals. The government budget balance is the difference between how much money the government collects (income) and how much money the government spends (expense). If the government has more money coming in than going out, then it has a budget surplus. If it has more money going out than coming in, it has a budget deficit.