The budget deficit
A) is the total outstanding borrowing by the government.
B) is the difference between government outlays and tax revenues.
C) decreased during the Obama Administration.
D) reached its peak in the year 2000.

Question

Quizplus · Accepted Answer

The budget deficit refers to the difference between what the government spends (outlays) and what it collects in taxes (revenues) in a given fiscal year. When the government spends more than it collects, it runs a deficit.

The Budget Deficit