The annual negative imbalance between revenues and expenditures of the U.S. government, or when the government spends more than it collects in any given year, is called

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A federal deficit is the annual negative imbalance between revenues and expenditures of the U.S. government, or when the government spends more than it collects in any given year. The national debt, on the other hand, refers to the total amount of money owed by the U.S. government to its creditors. National income accounting is a method used to measure the economic activity of a country, while the trade deficit refers specifically to the difference between a country's imports and exports.

The Annual Negative Imbalance Between Revenues and Expenditures of the U.S