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budget deficit

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budget deficit

The amount of shortfall that occurs when government expenditures exceed revenues during a fiscal year. The most economically significant deficit is the US federal budget deficit, which is usually financed through the sale of government securities on the financial market. The government sells bonds and other financial instruments, promising to repay the face value plus interest in a specified time. The accumulation of obligations constitutes the national debt.



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? Mentioned in ? References in periodicals archive
 
At its current rate of growth, the federal budget deficit could top $46 trillion (adjusted for inflation) by the time baby boomers start retiring.
Top federal official sees fiscal disaster ahead by Implement & Tractor
Bush's main talking point on the budget is that he "cut the federal budget deficit in half"--that would be from 2004, the year the White House inflated the projected deficit for 2006.
Dubya plays with numbers by Ivins, Molly / The Progressive
Douglas Holtz-Eakin, the former director of the Congressional Budget Office who also served as a White House economist under President Bush, sees little reason to cheer in the face of an estimated budget deficit for the current fiscal year that is forecast to be lower than previously thought but will still approach $300 billion.
Well-known economist decries excessive federal spending by McManus, John F. / The New American
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