budget deficit


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budget deficit

n
(Government, Politics & Diplomacy) the amount by which government expenditure exceeds income from taxation, customs duties, etc, in any one fiscal year

budget deficit

When the government’s spending exceeds revenue from taxation. Compare balanced budget; budget surplus.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.budget deficit - an excess of expenditures over revenues
deficit - an excess of liabilities over assets (usually over a certain period); "last year there was a serious budgetary deficit"
federal deficit - an excess of the federal government's spending over its revenue; "federal deficits can cause inflation"
References in periodicals archive ?
Bush's re-election, forecast that a falling dollar would send interest rates up out of control if the federal budget deficit was not reduced--reduced by higher taxes.
If I were Bush, I wouldn't even mention the budget deficit. When he came to power, he inherited a huge budget surplus, which he squandered.
The literature on budget deficit sustainability is primarily concerned with whether or not government's intertemporal solvency constraint is violated.
Rubin said that in addition to an unstable geopolitical situation, the United States is facing at least a $3 trillion budget deficit for the next 10 years, a problem that is going to be made worse when a large number of baby boomers will retire in the next decade.
A Swedish government agency has said that Sweden's central government budget deficit is likely to increase in 2004 because of rising unemployment.
Besides, if we look back on earlier budget deficit eras, as a nation we're far less leveraged than we have been for much of the past half century.
Indeed, all else equal, had the surprise fallen on the other side--downward instead of upward--we would be looking at nontrivial budget deficits at least through the beginning of the coming decade.
Based upon Hoeischer [10; 11], as well as the standard loanable funds model, it is argued that R is an increasing function of both expected inflation and the real budget deficit. Based upon various arguments in Hoelscher [11], it is also expected that R is an increasing function of ERSR, whereas the impact of Y on R is a priori unknown.
This country has never seen a tax increase result in a reduced budget deficit. Accordingly, the country should be skeptical of tax increases.
At Rs1.03 trillion, or 2.7% of GDP, the budget deficit has hit a six-year high in the first half of the ongoing fiscal year, according to the fiscal operations data released by the Ministry of Finance.
ISLAMABAD -- Pakistan recorded a record budget deficit of Rs2.26 trillion (6.6 percent of GDP) in the last financial year 2017-18 due to a lagged performance of the tax machinery and expansionary fiscal policies.
The inter-agency Development Budget Coordination Committee (DBCC) decided not to adopt the recommendation of the International Monetary Fund (IMF) to lower the national government's budget deficit ceiling.