The government's annual primary budget deficit is equal to the

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Quizplus · Accepted Answer

The primary budget deficit is the excess of government's program expenditures over tax revenues in a given fiscal year. This means that the government is spending more money on programs than it is taking in through taxes. It does not include the accumulation of government borrowing or the decrease in the stock of government debt, which are related to the overall level of government debt but not the annual deficit. The total amount of government spending on program expenses, personnel, and capital outlays is also not necessarily the same as the deficit, as it would depend on the level of revenue received as well. The excess of current revenue over current expenditure would actually indicate a surplus rather than a deficit.

The Government's Annual Primary Budget Deficit Is Equal to the