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?
National Debt Glossary
Looks up the key terms for understanding America's financial crisis
Join the Discussion
| 0 | Add YoursPlease leave your comment below.
You must be logged in to leave a comment.