The government has a budget deficit when the government's net tax revenue is less than the government's expenditures.

Name: The government has a budget deficit when the government's net tax revenue is less than the government's expenditures.
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A budget deficit occurs when a government spends more money than it receives in tax revenue over a specific period, leading to a shortfall that typically requires borrowing to finance.

The Government Has a Budget Deficit When the Government's Net