The balance of payments had also shown substantial surpluses during all, but one of the years from 1964 to 1970.

So, it may come as a surprise to many that Social Security is operating with substantial surpluses.

Allocating any substantial surpluses to the problem would help reduce the need for other politically difficult measures.

Despite the substantial surpluses this year and last, budget gaps are expected to occur because the city's spending is growing faster than its revenues.

Some states had a substantial surplus and other states could not even meet their budgetary responsibilities.

A substantial surplus usually remains, therefore, at the end of each financial year.

Interest rates have dropped and a trade deficit has turned into a substantial surplus, he noted.

Since 1983 the program has rung up substantial surpluses, in recent years from $50 billion to $70 billion.

Perhaps the most important development has been the substantial surplus that budget officials predict the city will realize at the end of this fiscal year.

They say that to focus exclusively on the Federal deficit ignores the substantial overall surplus in state budgets.