When the federal government's collection of tax revenues is less than what it spends in a given year,it results in a:

Question

Quizplus · Accepted Answer

When the federal government's collection of tax revenues is less than what it spends in a given year, it results in a national deficit. This means that the government spends more money than it takes in and must borrow to make up the difference. The national deficit is the total amount of money the government owes, and it is different from the national debt, which is the accumulation of all past deficits.

When the Federal Government's Collection of Tax Revenues Is Less