A budget deficit is when expenditures exceed revenues in a fiscal year.

Name: A budget deficit is when expenditures exceed revenues in a fiscal year.
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A budget deficit occurs when a government or organization spends more money than it collects in revenue during a particular period, typically a fiscal year. This results in a negative balance or shortfall, which requires borrowing or other measures to cover the deficit.

A Budget Deficit Is When Expenditures Exceed Revenues in a Fiscal