A debt crisis refers to how much government spending exceeds tax revenues in a given year.

Name: A debt crisis refers to how much government spending exceeds tax revenues in a given year.
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A debt crisis refers to a situation where a government or entity is unable to pay back its debt obligations, often due to a combination of high debt levels and insufficient cash flow. It is not solely based on the difference between spending and tax revenues in a given year.

A Debt Crisis Refers to How Much Government Spending Exceeds