budget deficits
Government spending gaps
Budget deficits occur when a government, organization, or household spends more than it takes in during a given period.
Governments run deficits by spending beyond tax revenues, financing the gap through borrowing: The budget deficit ballooned during the recession.
Persistent deficits accumulate into debt.
The opposite is a budget surplus.
Compulsory government revenue collection
- revenueBusiness income total
- austerityEnforced economic stringency
- spending cutsReducing governmental expenditures
- leviesMandatory governmental charges
tariffs · fiscal policy · stimulus · subsidies · contractionary · expansionary · surplus · tax hikes
Temporary taking of another's
- creditorOne owed money
- bondBinding tie or connection
- liabilityLegal or financial obligation
- obligationRequired task or commitment
repayment · interest · amortization · default · lender · financing · leverage · arrears
National legislative assembly
- legislationOfficial enactment of statutes
- appropriationsDesignated funds for purposes
- sequestrationAct of setting apart
- entitlementsLegally guaranteed benefits
taxpayers · public sector · defense spending · welfare programs · social security · government bonds · treasury · omnibus bill
Study of aggregate economies
- inflationSustained price level increase
- recessionProlonged economic decline
- GDPNational output abbreviation
- monetary policyCentral bank economic controls
interest rates · currency devaluation · trade imbalance · economic growth · stagflation · balance of payments · exchange rate · quantitative easing
Unfilled space between
- insufficiencyShortfall in amount needed
- inadequacyState of being insufficient
- shortageDeficient supply of necessities
- underfundingInadequate monetary allocation
negative balance · imbalance · mismatch · overrun · cost overrun
taxation
Compulsory government revenue collection
- revenueBusiness income total
- austerityEnforced economic stringency
- spending cutsReducing governmental expenditures
levies · tariffs · fiscal policy · stimulus · subsidies · contractionary · expansionary · surplus · tax hikes · fiscal cliff
borrowing
Temporary taking of another's
obligation · repayment · interest · amortization · default · lender · financing · leverage · arrears · creditworthiness
parliament
National legislative assembly
- legislationOfficial enactment of statutes
- appropriationsDesignated funds for purposes
- sequestrationAct of setting apart
entitlements · taxpayers · public sector · defense spending · welfare programs · social security · government bonds · treasury · omnibus bill · debt ceiling
macroeconomics
Study of aggregate economies
- inflationSustained price level increase
- recessionProlonged economic decline
- GDPNational output abbreviation
monetary policy · interest rates · currency devaluation · trade imbalance · economic growth · stagflation · balance of payments · exchange rate · quantitative easing · economic indicators
gap
Unfilled space between
- insufficiencyShortfall in amount needed
- inadequacyState of being insufficient
- shortageDeficient supply of necessities
underfunding · negative balance · imbalance · mismatch · overrun · cost overrun
- British EconomyBank of England, pound sterling, sterling, GDP, national debt
- fiscal policyfiscal reform, fiscal policy, government spending, fiscal responsibility, fiscal discipline
- public financepublic debt, tax revenue, budgets, expenditure, public spending
- macroeconomicsGDP, GNP, gross domestic product, gross national product, inflation rate
- EU Fiscaleurozone, European Central Bank, European Commission, public debt, sovereign debt
- fiscal historypublic debt, national debt, government bonds, treasury bonds, tax reform
budget deficitsfiscal surplus
Revenue exceeding outlays
budget surplus · balanced budget · surpluses · surplus · black ink
budget deficitsfiscal austerity
Reduced government expenditure policy
spending cuts · fiscal restraint · balanced budgets · debt reduction · fiscal discipline
budget, deficit, deficiency, budgeting, budgeted, deficient, budgetary, deficiencies, deficits