By definition, a government budget deficit is the situation that occurs when the

Name: By definition, a government budget deficit is the situation that occurs when the
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A government budget deficit occurs when the government's spending (outlays) exceeds its revenue (tax receipts). This means that the government is spending more money than it is taking in, which can lead to an increase in debt. This can happen regardless of whether the economy is in a recession or not.

By Definition, a Government Budget Deficit Is the Situation That