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 is the amount by which the government's expenditures exceed receipts during a specific time period. It is not the value of the government's indebtedness at a moment in time or a specific dollar amount for a fiscal year.

The Budget Deficit