Rubinomics refers to the idea that budget deficits cause or push up interest rates. Its a pretty good political line to deflect cries for tax cuts when governments are producing surpluses but its just not true. One would just look at Japan and see how budget deficits have been increasing yet rates are anemic. During the Clinton Administration, there is a smooth gradual decline in the budget deficit to budget surplus yet yields during that period, at least on the 10 year treasury bond, bounced around. Its hard to say Rubinomics holds.
As for budget surpluses I'm assuming the article is relating to the accounting identity. With the U.S. being a relatively closed economy, int'l trade making up a small portion of GDP, public sector surpluses is a result of money being sucked away from the private sector and vice versa. I'll leave it at that. Hope this helps.
