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A budget for which expenditures are equal to income. Sometimes a budget for which expenditures are less than income is also considered balanced. The concept is often discussed in reference to the federal government.
It is, I believe, Scottish slang. Maybe derrogotory, not sure, but it is possibly less than polite: A Leftfooter is a Roman Catholic.
having equal authority
To divide it into four equal parts.
If you mean "checks and balances", then it is equal