- published: 23 Oct 2012
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A balanced budget (particularly that of a government) refers to a budget in which revenues are equal to expenditures. Thus, neither a budget deficit nor a budget surplus exists ("the accounts balance"). More generally, it refers to a budget that has no budget deficit, but could possibly have a budget surplus. A cyclically balanced budget is a budget that is not necessarily balanced year-to-year, but is balanced over the economic cycle, running a surplus in boom years and running a deficit in lean years, with these offsetting over time.
Balanced budgets and the associated topic of budget deficits are a contentious point within academic economics and within politics. The mainstream economic view is that having a balanced budget in every year is not desirable, with budget deficits in lean times being desirable. Most economists have also agreed that a balanced budget would decrease interest rates, increase savings and investment, shrink trade deficits and help the economy grow faster in the longer term.
Tony Robbins (born Anthony J. Mahavoric; February 29, 1960) is an American motivational speaker, personal finance instructor, and self-help author. He became well known from his infomercials and self-help books: Unlimited Power, Unleash the Power Within and Awaken the Giant Within.
In 2007, he was named in Forbes magazine's "Celebrity 100" list.Forbes estimated that Robbins earned approximately US$30 million in that year.
Robbins was born Anthony J. Mahavoric in North Hollywood, California, on February 29, 1960. Robbins is the eldest of three children and his parents divorced when he was 7. His mother then had a series of husbands, including Jim Robbins, a former semiprofessional baseball player who legally adopted Anthony when he was 12.
His father could not provide for their family, so he left them. His mother started abusing alcohol and prescription drugs sometime after. While growing up, Robbins was a primary care-giver, and helped provide for his siblings. Robbins was raised in Azusa and Glendora, California, and attended Glendora High School. He was elected student body president in his senior year, and grew 10 inches in high school, a growth spurt later attributed to a pituitary tumor. He has said his home life was "chaotic" and "abusive". When he was 17 years old, Robbins' mother chased him out of the house with a knife, and he never returned. Robbins later worked as a janitor, and did not attend college.