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Budget deficit

National Debt Glossary: Key terms for understanding America's financial crisis


The amount by which the government’s budget outlays exceed its budget receipts for a given period, usually a fiscal year.

SOURCE: U.S. Government Accountability Office

See also: Balanced budget; Budget surplus

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FAQ: What's the difference between the debt and the deficit?

See all terms in the National Debt Glossary

Frequently Asked Questions: National Debt

See all questions about the national debt. >>

 

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