GAO Glossary of Terms and Definitions (September 2005)

Cyclical Surplus/Deficit

 (Economics Term)

The part of the federal budget surplus or deficit that results from cyclical factors rather than from underlying fiscal policy. This cyclical component reflects the way in which the surplus or deficit automatically increases or decreases during economic booms or recessions.

[Pages 39]

Previous: Current Year	Next: Cyclically Adjusted Surplus or Deficit (Economics Term)