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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budget deficit (redirected from deficit)

budget deficit

budget deficit
(redirected from deficit)