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We also radiate a lot of energy back into space

We're working on fixing that part though.

That's a misconception. Earth is still pretty much in an equilibrium and emits as much as it gets from the sun. Global warming is due to the heat staying a bit longer in the system, not due to emitting less.

If the world is warming up it is not in equilibrium, or an I missing something?

If I have a tap flowing into a bucket, then once the bucket is full the amount of water flowing over the top will exactly equal the amount of water flowing in from the tap.

If I increase the size of the bucket, the the amount of water flowing over the top will also exactly equal the amount flowing from the tap.

There's also scale to consider: global warming is more like if my bucket was very soft, and I've stretched the plastic a little bit to give it slightly more volume (the analogy breaks down beyond this point).

I don’t understand the analogy. What’s the water and what’s the bucket?

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