The budget deficit
A)is the value of the government's indebtedness at a moment in time.
B)was $13.5 trillion in fiscal 2014.
C)is the amount by which the government's expenditures exceed receipts during a specific time period.
D)all of the above are correct.

Question

Quizplus · Accepted Answer

The budget deficit refers to the amount by which the government's expenditures exceed its revenues during a specific time period. It does not refer to the government's total indebtedness at any given moment, nor was it a specific dollar amount in any given year.

The Budget Deficit