A balanced budget means no new injection of money into the economy.
The financial year looks the same at the end as it looked at the beginning.
No change has occurred.
There is only one reason to have such a limitation of wealth, that is if inflation threatens the economy as our gouvernment has charged too little tax out of it.
A budget surplus means that the government has managed to spend less money in to the private sector than they have taken out in tax.
This means that the private sector now has a deficit of money in it.
The financial year ends with the fact that there is less money in the private sector than there was in the start of the year.
This means that households and firms has to borrow or use their savings to maintain their consumption of goods and services in order to maintain the existing level of revenues and living standards.
This is also occurs when our banks are aloud to control the money supply.
If the surpluses are retained for a long time the whole of the private sector has to reduce their expectations and their economic activity, and we get a recession with unemployment as a consequence, or it has to try to compensate by putting itself into (more) debt. Which was the case leading up to the bank crisis in 2008.
A follow up to this happens when loans cannot be repaid, which later turned out to accelerate and spread the banking crisis.
With a budget deficit the state has charged less tax out of the economy than it has spent into what we use in the economy. There is a general financial prosperity and employment increase because the supply of money increases to come in line with the existing resources.
The macroeconomic terminology thus have an opposite impact on the real economy than household thinking because households and firms use the money. Gouvernments have the constitutional right to create and spend them for us to be able use them in the economy.
A budget then has nothing to do with ideology, an -ism or any doctrin. But it has all to do with who controls the money supply.