Skip to content

You could save on auto insurance when you complete the AARP Safe Driving course! Use code BELLS to save 25 percent now.

 
National Debt Glossary

Federal deficit

The amount that the government spends each year in excess of what its tax, tariff and fee revenues bring in. (The government then must borrow to make up the difference.)

SOURCE: Federal Reserve Bank of New York

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

 

Join the Discussion

0 | Add Yours

Please leave your comment below.

You must be logged in to leave a comment.

GO TO THIS ARTICLE